Daily Times

Prime Minister Shehbaz Sharif on Friday unveiled a three-month Electricity Relief Package for the winter season providing a relief of up to Rs26.7 per unit for domestic, Rs15.5 for industrial and Rs22.71 for commercial consumers.

The prime minister, addressing an event to commemorate the birth anniversary of Allama Muhammad Iqbal, told the gathering of ministers, students, and artists that the relief package would remain in force from December 2024 to February 2025.

“Under the package, the domestic consumers will get a relief of up to Rs 26.7 per unit for their power consumption surpassing 200 units of the protected category. It will help them save Rs11.42 to Rs26 per unit in the three months of winter,” the prime minister said.

Similarly, the industrial sector will save 18-37% or Rs 5.27 to Rs 15.5 per unit under the package to help boost industrial production, growth and livelihoods. The commercial consumers will be given a 34-47% saving or Rs 13.46 to Rs 22.71 per unit subsidy in the package.

Prime Minister Shehbaz Sharif said the package would stimulate a quantum jump in the country’s economic progress by boosting agriculture, industrial productivity, business activity and exports.

He said that the commitments and vision of the current government were being translated into actions through the relief package that would become the harbinger of improved economic resilience.

Besides thanking the IMF for permitting the government to announce the package, he also commended the cabinet members and relevant senior officers for their efforts and teamwork in working out the relief package.

Coming to the Iqbal Day celebration, he motivated the youth and children to remain resolute in their ambition to achieve a glorious future for the nation.

Highlighting the government’s achievements on the economic front, Prime Minister Shehbaz informed that the foreign remittances in the first quarter of the current fiscal year were record high as the overseas Pakistanis had sent $8 billion in remittances to the country. The Pakistani diaspora were the real ambassadors of the country offshore protecting the national interests and prestige, he added.

The prime minister also highlighted the current government’s efforts in reviving the national economy as it was determined to provide the best education facilities to its youth in fields of AI, IT, vocational training, and emerging technologies that would help them regain the glorious status of the nation.

He mentioned that the economic situation was improving as the inflation rate was down to 6.7% from 32%, policy rate down to 15% and expressed the hope that the indicators would boost investment, exports, development in agriculture, livelihoods and businesses.

Separately, Prime Minister Shehbaz Sharif on Friday highlighting the government’s efforts to promote the telecommunications sector, reiterated his resolve to meet the target of $25 billion in IT exports in the next three years.

The prime minister, in a meeting with a five-member delegation of VEON Group led by Chairman Augie K Fabela here, said that the government was taking measures to introduce 5G internet service to provide fast and reliable internet connectivity even in remote areas. The 5G services would also help the government realise its vision of Digital Pakistan, he added.

The telecommunication sector had a significant role in promoting a cashless and digital economy, he said and lauded the services of VEON Group’s subsidiary Jazz in Pakistan’s telecommunications and financial technology sectors, according to a PM Office press release.

Prime Minister Shehbaz said that the government was willing to collaborate with VEON Group in IT, digitisation and artificial intelligence.

The members of the delegation appreciated the government’s efforts for economic stability and said that Pakistan had become an important investment destination for the IT and telecom sector.