Electricity consumers across the country have received relief as the government announces a reduction in electricity rates by up to 1.23 rupees per unit. According to a notification, state-run distribution companies (DISCOs) consumers will benefit from a 1.22-rupee reduction per unit, while K-Electric users will see a 1.23-rupee cut. This price reduction stems from the monthly fuel price adjustment. For DISCOs, the reduction applies to the fuel charge adjustment (FCA) for December, while K-Electric consumers will see the reduction applied to November’s FCA. The change will be reflected in February’s electricity bills. According to Nepra, this FCA reduction will apply to most consumer categories, except for lifeline customers, domestic consumers using up to 300 units, electric vehicle charging stations, prepaid customers, and agricultural connections. Nepra also confirmed that the adjustment will be effective for domestic users with Time of Use (ToU) metres, regardless of their consumption levels. The developments came earlier in the day when Prime Minister Shehbaz Sharif said the International Monetary Fund (IMF) had conveyed that it would not oppose a reduction in electricity prices. While sharing details of his recent visit to Dubai with a federal cabinet meeting, the prime minister said IMF Managing Director Kristalina Georgieva had indicated that the global lender was open to reviewing Pakistan’s power tariff reduction plan if presented formally. Addressing the meeting, Shehbaz said that during his meeting with the IMF’s managing director in Dubai, he had discussed the challenges faced by Pakistan’s power sector at length. “I told her that industries can thrive and economic growth can be achieved only if production costs are reduced,” he said, adding that the IMF official had given a positive response to his proposal. “The concern that the IMF would not accept a power tariff reduction was now dispelled,” Shehbaz said, adding that the international lender had invited Pakistan to present its plan for lowering electricity prices. In a post on X, Georgieva said, “Wonderful to meet Prime Minister @CMShehbaz and his team.” “I am encouraged by their strong commitment to Pakistan’s IMF-supported reforms and support their decisive actions to pave the way to higher growth and more jobs for Pakistan’s youthful population.” These comments come amid the IMF team’s visit to the country for a week-long scrutiny of the judicial and regulatory system as part of the ongoing $7 billion Extended Fund Facility (EFF) to address governance and corruption vulnerabilities. According to a statement from the Prime Minister’s Office (PMO), the IMF chief commended the country’s efforts “in effectively implementing the IMF-supported programme, highlighting the country’s improving economic performance with rising growth and declining inflation,” per the statement. She recognised that Pakistan was “on the path to growth and has undergone economic recovery”, further reiterating the IMF’s support for its reform agenda. The premier was in the UAE alongside Foreign Minister Ishaq Dar on a two-day visit at the invitation of President Sheikh Mohamed bin Zayed Al Nahyan to participate in the World Governments Summit (WGS).