Punjab unstrings purse to offer big power tariff relief

Rs14 per unit relief offered for up to 500 units

LAHORE:

In a bid to offer considerable relief to electricity consumers using up to 500 units, PML-N President Nawaz Sharif, who has returned to the centre stage after a long hiatus, announced that the Punjab government will be slashing Rs14 per unit from electricity prices for August and September.

The move aims to help people weather the storm of soaring inflation and skyrocketing electricity bills.

In a characteristic move, Nawaz Sharif once again placed the blame for the economic downturn squarely on PTI leader Imran Khan, accusing him of driving Pakistan back into the clutches of the IMF. "By 2017, I had bid a final farewell to the IMF," he claimed.

However, the claim is far from the truth as the PTI government's first challenge was to seek an IMF bailout due to the economic instability inherited from the previous PML-N administration.

Flanked by Punjab Chief Minister Maryam Nawaz during his address to the nation, Nawaz announced the provincial government's decision to reduce the electricity price by Rs14 per unit for consumers using up to 500 units for two months.

He revealed that the cost of this subsidy, totalling Rs45 billion, had been chipped out from other heads to give people relief.

This relief, he pointed out, was on top of the existing subsidy for consumers using up to 200 units.

The PML-N supremo mentioned that CM Maryam Nawaz recently announced a Rs700 billion solar array scheme for lifeline consumers, adding that he would also urge Prime Minister Shehbaz Sharif to cooperate with Punjab to implement this initiative.

He stressed that the PM should also extend cooperation to other provinces in this regard.

Acknowledging the backbreaking inflation and ever-increasing electricity prices, Nawaz said he could not help but draw comparisons between today's prices and those during his 2017 tenure, a time he described as one of prosperity.

He claimed his government had managed to turn the economy around, pulling Pakistan back from the brink of bankruptcy.

He also pointed out that during his tenure, the dollar remained stable at Rs104, whereas today it has skyrocketed to Rs250.

People who were paying Rs1,600 are now receiving bills of Rs18,000, forcing them to rethink their priorities, he lamented. He said those who ousted him have done this nation a grave injustice.

 

He claimed that from the outset of this government's tenure, he has been urging the prime minister, who is also his younger brother, to rein in the inflationary storm.

He insisted that Imran Khan is to blame for the current situation, claiming that under his leadership, they had bid the IMF a final farewell.

Even the World Bank conceded in its report that Pakistan had broken free from the shackles of debt, but it was Imran who dragged the country back into the IMF's grip, he added.

Nawaz also took credit for ending load shedding during his time in office, although he sidestepped discussing the controversial power project agreements inked during his tenure, which have been linked to the current soul-sapping electricity costs.

Nawaz asked who is to be blamed for the massive hike in the policy rate, which soared from 5.25% during his tenure to a peak of 22%.

"At the current rate of 19.5%, who will invest in Pakistan, and who can run industries under such conditions?" he asked, adding that "IMF's conditions have straight-jacketed Pakistan."

Interestingly, he conveniently overlooked that it was during his brother's government that the policy rate hit a record high.

Shifting more blame onto the PTI, Nawaz criticised the party for going around with a begging bowl in hand.

He claimed that his government had repaid all debts and constructed motorways from domestic resources.

Nawaz asserted that Pakistan was on the path to becoming an "Asian Tiger" and would have achieved global recognition if his government had continued at the same pace.

Those who ousted him, Nawaz added, have devastated Pakistan and committed an unpardonable sin. He said he humbly urged the public not to fall for their deceptions, as they have exploited the nation.

 

PM hails 'historic relief'

Meanwhile, lauding the Punjab government's decision to grant relief to the masses, Prime Minister Shehbaz Sharif welcomed the "historic package for the electricity consumers" announced by CM Maryam Nawaz "under the leadership of Nawaz Sharif".

 

"The decision to reduce electricity rates by Rs14 per unit for consumers who use up to 500 units per month is a notable example of a people-centric initiative by Nawaz Sharif and the Punjab Chief Minister," the prime minister said in a statement issued by the PM Office.

He said under the guidance of Nawaz Sharif, public relief had remained the government's top priority since day one of assuming his office.

Recently, he said the federal government had announced relief for electricity consumers using up to 200 units per month by cutting the size of its annual development budget by Rs50 billion.

 

He highlighted that under the leadership of Nawaz Sharif, the government was taking steps to make the lives of the people easier.

He assured that the government was working for the long-term solution of reduction in electricity prices and all possible efforts were being made in this regard.