Prime Minister Shehbaz Sharif has reaffirmed his commitment to lowering electricity tariffs for households and industries by implementing comprehensive power sector reforms.
Presiding over a high-level meeting on power sector reforms, he instructed officials to ensure the timely execution of all planned initiatives.
During the meeting held in Islamabad, a detailed briefing was given on the three-year targets for the sector. Authorities reported that ongoing reforms and an anti-theft campaign had improved the recovery rate of distribution companies to 93.26% by December 2024.
PM Shehbaz highlighted the progress made, emphasizing that long-standing inefficiencies in the power sector were being systematically addressed through collaborative efforts between the ministry and relevant institutions.
He reiterated the government’s commitment to providing affordable and eco-friendly electricity, stating that renegotiations with Independent Power Producers (IPPs) had led to financial savings and reduced electricity costs.
Commending the anti-power theft campaign, he acknowledged that minimizing losses suffered by distribution companies was a significant milestone, reflecting the dedication of the Ministry of Energy and its partners.
The Prime Minister directed authorities to intensify efforts against power theft, aiming for a complete elimination of losses across all distribution companies.
He also noted that the appointment of experienced private sector professionals to the boards of distribution companies had yielded positive results. He urged the completion of similar appointments in companies still awaiting board formation.
Furthermore, he pointed out that a decrease in transmission losses was a direct result of ongoing reforms and reaffirmed his commitment to further reducing tariffs for both residential and industrial consumers.
The meeting included a comprehensive review of the power sector’s performance, covering plans for gradual circular debt reduction, the development of competitive electricity markets, and strategies for tariff reduction.
Progress on key transmission line projects, including the 500 kV Matiari-Moro-Rahim Yar Khan and Ghazi Brotha-Faisalabad transmission lines, was also evaluated.
Officials provided updates on the dissolution of the National Transmission and Dispatch Company (NTDC) and the creation of a new entity, the Energy Infrastructure Development and Management Company (EIDMC).
PM Shehbaz directed authorities to expedite the completion of all reforms and projects to enhance the efficiency and sustainability of the power sector.
