What are new electricity unit rates for households & industries in Pakistan?

PM Shehbaz Sharif on Thursday introduced a relief package that includes a significant reduction in electricity prices for both households and businesses.

The announcement was made during a ceremony in Islamabad, which was attended by government officials, cabinet members, and members of the business community.

For industries, the government has cut the electricity price by Rs7.59 per unit, bringing the new rate to Rs40.6 per unit. For domestic consumers, there will be a reduction of Rs7.41 per unit, setting the new rate at Rs34.37 per unit. These price cuts are expected to reflect in electricity bills starting from April 2025, although final details have yet to be confirmed.

In his speech, the Prime Minister reflected on the difficult situation the country was in when the current government took office. He mentioned the challenges faced, including an IMF that was unwilling to cooperate and the lack of funds to keep power plants running.

He also criticized those responsible for pushing Pakistan toward a potential default, particularly targeting the PTI party. Sharif said that the previous administration had broken its agreement with the IMF and had hindered efforts to prevent default by even having a finance minister send letters to the IMF.

He reassured the public that Pakistan’s economy is now on the right track, praising the patience of the people, the business community, and especially the ordinary citizens.

He also acknowledged the support of the Chief of Army Staff, General Asim Munir. The Prime Minister concluded by expressing optimism, stating that the country’s development journey is about to begin now that key economic indicators are in a better place.

Read More: PM Shehbaz announces major electricity rates cut by Rs7.41 per unit