Prime Minister Shehbaz Sharif has decided to keep petroleum product prices unchanged for the next fortnight and divert the relief from a decrease in petrol prices in the international market towards a notable downward revision in the power tariff for the masses.
The federal government aims to maintain petroleum product prices and transfer the full financial benefit to the masses through power tariff, the PM Office said in a statement on Saturday. The move will be one of many steps taken by the government to achieve a meaningful reduction in the electricity rates, the premier said. A package is being prepared under a comprehensive and effective strategy to slash power prices, PM Shehbaz said, adding that the details of the relief measure for the public are being finalised by utilising the financial space created due to fluctuations in global oil prices.
The statement added that the power tariff reduction package would be unveiled in the coming weeks.
The premier said his administration remains committed to prioritising public relief since coming into power.
He expressed his aim to provide further relief for the masses alongside the power tariff reduction. “The relief will not only reduce electricity prices but will also have a broader impact on inflation, leading to a further decrease,” said the premier.