PM Shehbaz orders further reduction in electricity rates

Prime Minister Shehbaz Sharif has directed the government to reduce electricity rates further for consumers and expedite the implementation of the country's future electricity generation strategy.

Chairing a meeting in Islamabad on Friday to review and discuss the country’s power plans, the PM stressed that future energy projects should prioritise low-cost electricity generation. He stressed the importance of utilising local resources for power production.

The PM was briefed on the progress of ongoing hydropower projects across the country. He highlighted that hydropower is a low-cost, environmentally friendly source of electricity that benefits consumers by providing affordable power. 

He also advocated for converting existing power generation to solar energy, noting that solar power is a sustainable and cost-effective solution being adopted globally. Given Pakistan's vast potential for solar energy, he called for maximising this resource.

Additionally, PM Shehbaz was updated on the status of outdated and inefficient power plants, which consume more fuel while generating less electricity.

He directed the immediate shutdown of these plants, as their closure would help save foreign exchange spent on fuel imports and reduce electricity costs for consumers. 

The PM further instructed action against officials who are obstructing reforms in the power sector. The meeting also discussed ongoing reforms in the power transmission system. 

PM Shehbaz called for the modernisation of the transmission network to meet international standards, highlighting the need for a system that selects and transmits low-cost electricity based on production costs.

Furthermore, the PM directed that all power sector reforms be completed within the specified timeline, ensuring that the necessary measures are swiftly implemented.

The meeting covered new and ongoing projects, progress on power sector reforms, and the current demand and supply of electricity. Updates were provided on the closure of power plants operating on imported fuel and advancements in the power transmission system.