Prime Minister Shehbaz Sharif announced a further reduction in electricity tariffs to benefit domestic consumers and industries. While leading a review meeting in Islamabad, he praised ongoing power sector reforms for delivering positive results.
Ensuring Affordable and Sustainable Energy
PM Shehbaz reaffirmed his commitment to providing low-cost and eco-friendly electricity. He stressed that revising agreements with Independent Power Producers (IPPs) is saving the national treasury and lowering prices. These adjustments are part of broader reforms aimed at boosting efficiency in the power sector.
Strengthening the Anti-Theft Campaign
The Prime Minister emphasized the need to eliminate electricity theft and enhance recovery rates. He praised the anti-theft campaign for significantly improving distribution companies’ financial health. Additionally, he urged authorities to accelerate efforts against power pilferage and ensure all companies achieve financial stability.
As a result of these measures, the recovery rate of distribution companies improved to 93.26% by December 2024.
Enhancing Efficiency with Private Sector Involvement
The government appointed experienced private-sector board members to improve electricity distribution companies. Their expertise has boosted performance and efficiency. Additionally, reducing transmission losses highlights the success of the reform strategy.
Advancing Major Power Projects
Officials updated the meeting on the 500 kV Mitiari-Moro-Rahim Yar Khan and Ghazi Barotha-Faisalabad transmission line projects. These initiatives aim to improve energy distribution and reliability.
Meanwhile, the government is dissolving the National Transmission and Dispatch Company (NTDC) and launching the Energy Infrastructure, Development, and Management Company (EIDMC). This restructuring will modernize the energy sector and enhance governance.
A Clear Path Forward
PM Shehbaz directed all authorities to complete reforms and projects within the deadline. These changes will lower electricity costs, improve efficiency, and boost economic growth. By ensuring affordable power, the government is paving the way for a stronger energy sector.
