Electricity tariff to be reduced for consumers, industries: PM

Prime Minister Shehbaz Sharif has said that electricity tariff will further be reduced for domestic consumers and industries through reforms in the electricity sector.

Chairing a review meeting regarding power sector in Islamabad on Friday, he expressed satisfaction over the ongoing reforms in the power sector saying these are yielding positive results.

Shehbaz Sharif said that he had committed to ensuring the provision of low-cost and environmentally friendly electricity. He said revising agreements with IPPs is saving the national treasury and reducing electricity prices for consumers.

Alluding to the campaign against power pilferage, the Prime Minister expressed the commitment to further accelerate it to fully eliminate the losses of all distribution companies in this regard.

Shehbaz Sharif mentioned that appointment of well-reputed board members from the private sector in electricity distribution companies is improving their performance. He said the reduction in transmission losses of electricity is also a clear indication of the positive results of the reforms.

The meeting was informed that the recovery rate of distribution companies improved to 93.26 percent by December last year, as a result of reforms in the electricity sector and the anti-theft campaign.

The meeting was also briefed on the progress of the 500 kV Mitiari-Moro-Rahim Yar Khan and Ghazi Barotha-Faisalabad transmission line projects.

Additionally, the meeting was informed about the progress regarding the dissolution of the National Transmission and Dispatch Company and the establishment of the new company, Energy Infrastructure, Development and Management Company (EIDMC).

The Prime Minister directed to complete all reforms and projects within the stipulated timeframe.