The government has decided to keep petroleum prices unchanged while utilising available financial space to reduce electricity tariffs, Prime Minister’s Office announced. The move aims to bring direct relief to the public amid rising inflation and economic challenges. Instead of cutting fuel prices, the government is focusing on long-term reduction in electricity costs, which contribute significantly to household and industrial expenses.
Prime Minister Shehbaz Sharif emphasised that this decision is part of a broader strategy to reduce power tariffs sustainably. He stated that a comprehensive plan is being finalised to introduce an electricity relief package, utilising fluctuations in global oil prices and other financial adjustments to ease the burden on consumers. The government believes this approach will have a more meaningful impact on inflation, as lower electricity costs benefit both households and businesses.
The decision follows demands for a Rs20 per litre cut in petrol and diesel prices, given recent changes in international crude oil rates. However, the government maintains that reducing electricity costs will provide a more stable form of relief without disrupting revenue streams needed for fiscal management. Officials have indicated that the new electricity relief package will be rolled out in phases, with adjustments planned over the coming weeks.
The Prime Minister reiterated his commitment to prioritising public welfare, stating that further reductions in electricity costs will be implemented soon. He also noted that the strategy will help lower inflation beyond just energy prices, contributing to overall economic stability and industrial growth. While fuel prices remain a sensitive issue, the government’s approach aims to ensure long-term affordability for essential utilities.
