Electricity consumers nationwide are set to receive relief as the government announces a reduction in power tariffs by up to 1.23 rupees per unit.
According to an official notification, consumers of state-run distribution companies (DISCOs) will experience a decrease of 1.22 rupees per unit, while K-Electric customers will benefit from a 1.23-rupee cut. This reduction is a result of the monthly fuel price adjustment.
For DISCOs, the decrease applies to the fuel charge adjustment (FCA) for December, whereas K-Electric users will see the adjustment reflected from November. The revised rates will be implemented in electricity bills issued in February.
The decision follows Prime Minister Shehbaz Sharif’s announcement that the International Monetary Fund (IMF) has clarified it will not oppose a reduction in electricity prices.
During a federal cabinet meeting, Shehbaz Sharif shared insights from his recent visit to Dubai, where he discussed Pakistan’s energy sector challenges with IMF Managing Director Kristalina Georgieva.
He stated that he emphasized the need for reducing production costs to foster industrial growth and economic stability. In response, the IMF official expressed a willingness to review Pakistan’s power tariff reduction plan if formally proposed.
“The assumption that the IMF would reject a power tariff reduction has now been dispelled,” the prime minister stated, adding that the lender had invited Pakistan to submit its proposal for lowering electricity prices.
