PM Shehbaz orders further reduction in electricity rates

Prime Minister Shahbaz Sharif has directed the government to further reduce electricity rates for consumers and speed up the implementation of the country’s future power generation strategy. Presiding over a meeting to review and discuss the country’s power plans in Islamabad on Friday, the prime minister stressed that future energy plans should prioritize low-cost power generation. They made electricityEmphasized the importance of utilizing local resources for production. The Prime Minister was briefed about the progress of the ongoing hydropower projects across the country. He highlighted that hydropower is a low-cost, environment-friendly source of electricity that benefits consumers by providing affordable electricity. He also advocated converting existing electricity generation to solar energy, noting that solar energy is a sustainable and low-cost solution.Which is being adopted globally. In view of the vast potential of solar energy in Pakistan, he called for maximum utilization of this resource. Furthermore, Prime Minister Shehbaz was apprised of the situation of old and inefficient power plants, which consume more fuel while producing less electricity. He directed to close these plants immediately. To save foreign exchange spent on fuel import by their closureAnd will help reduce electricity prices for consumers. The Prime Minister further directed that action should be taken against officials obstructing reforms in the power sector. The ongoing reforms in the power transmission system were also discussed in the meeting. Prime Minister Shehbaz stressed on modernizing the transmission network, highlighting the need for a system to meet international standards.Which selects and transmits low cost electricity based on cost of production. Furthermore, the Prime Minister directed that all power sector reforms be completed within the stipulated timeline, ensuring that the necessary measures are implemented expeditiously. The meeting covered new and ongoing projects, progress on power sector reforms and current supply and demand of electricity. Updates on power outages provided.