Reducing electricity prices a top priority for PML-N, allies: PM

Reducing energy prices is a top priority for PML-N President Muhammad Nawaz Sharif, the government, and its allies, said the Prime Minister Shehbaz Sharif, who made this statement on Friday.

Sharif stressed that in order to increase the country’s exports, the government needed to cut electricity rates in his opening remarks to the Cabinet. He made the argument that neither the industrial sector nor the agricultural sector could grow profitably without this cut. Lower electricity prices were directly related to industry competitiveness, he said.

Sharif denounced as being insulting to the public the use of electrical difficulties for political advantage. He emphasised that the country was looking for a solution to issues related to corruption and inefficiencies in the FBR and energy sector.

He gave the assurance that the government understood the issues facing the people and was making every effort to find solutions.

Shehbaz announced that the 20-hour daily load-shedding problem had been handled by the PML-N government. China was the sole nation exhibiting interest in power generating at the time, with few other nations ready to make major investments in the production of electricity. The prime minister stated in 2015 that some of the fastest power plants ever developed had been installed. Four 500 MW LNG facilities with 64 percent turbine efficiency were established by the government. Nawaz Sharif deserves recognition for these economically viable plants. The plants were constructed for a mere $450,000, while NEPRA’s tariff was $8.5 at the time.

These agreements should not be criticized, as they represented a sincere effort to address Pakistan’s most pressing challenge.