An undated image shows a power technician fixing electric meters in Pakistan. — AFP
Good news for the country's tax and inflation-ridden salaried class as electricity prices in Pakistan are set to take a dive, offering relief to households nationwide.
The purported plunge in Pakistan's electricity rates was brought to light by Federal Minister for Law Azam Nazir Tarar in the National Assembly, stating that the government is actively working to lower electricity costs for consumers.
During the NA session, focused on the government's energy policy and the solarisation programme, the law minister emphasised Prime Minister Shahbaz Sharif's commitment to this initiative.
Tarar explained that funds have been allocated to swiftly implement an expected electricity price drop.
It was also confirmed that proposals to abolish net metering have been repeatedly rejected by the cabinet, reinforcing the government's dedication to a consumer-friendly energy policy.
Electricity rates in Pakistan have fallen from Rs50 per unit to between Rs32 and Rs35, with households expected to see these reductions reflected in their bills soon, Tarar stated.
The latest decline in electricity prices in Pakistan follows an earlier proposal for a Rs10 rate cut for net metering, which the government rejected following public backlash.
Another concern voiced by NEPRA pertains to illegal advanced metering installations by GEPCO and delays in payments to solar energy consumers.
Part of the new policy entails that heavy electricity users will benefit from discounted rates to encourage less reliance on solar energy, thereby increasing demand on the national grid.