Prime Minister Shehbaz Sharif has stated that efforts are underway to further reduce electricity prices, and with the recent reduction in petroleum prices in the global market, electricity will be made cheaper instead of reducing the price of petrol.
While addressing a high-level meeting in Islamabad, he mentioned that reducing the price of electricity per unit will benefit the nation in every sector, and efforts are ongoing to further lower the prices. He hopes that better results will emerge in the coming months.
He said that there has been a recent reduction in oil prices in the global market, and efforts are being made to reap the long-term benefits of this. Proposals are being considered, and a solution will be presented soon.
Prime Minister Shehbaz Sharif further explained that a few weeks ago, the price of oil dropped, but instead of reducing petrol prices, it was included in the Petroleum Development Levy (PDL). However, to benefit the public, electricity prices were reduced accordingly.
He added that as global petrol prices continue to decrease, the government will work diligently to ensure that the benefits of this drop eventually reach the country’s economy and its citizens.
The Prime Minister also mentioned the formation of a task force for the improvement of the maritime sector, which has been working hard on reforms, and its results are now becoming visible.
