Pakistan to reduce electricity tariffs soon, confirms minister

The Pakistani government plans to lower electricity tariffs soon, according to Power Minister Awais Leghari. He spoke at a press conference in Islamabad and said the announcement would come shortly. Leghari assured the public that concerns over high energy costs are being addressed. He mentioned that Prime Minister Shehbaz Sharif would share "good news" about electricity prices soon. Many people were disappointed after expecting a tariff reduction in the prime minister's recent speech. On March 15, the government decided to keep fuel prices steady despite a drop in global oil prices, raising the petroleum levy instead. At the event, Leghari also announced a significant cut in electric vehicle charging rates. The price per unit dropped from Rs71 to Rs39. This reduction encourages the use of electric vehicles and supports the government's green energy initiatives. Leghari praised partnerships with private companies for promoting sustainable energy projects. Separately, the government's privatization committee approved a plan to sell a controlling stake in Pakistan International Airlines (PIA). This move aims to fulfill commitments made under an International Monetary Fund (IMF) program. Officials believe this sale could ease financial burdens and attract local and international investors. Previous attempts to privatize PIA faced challenges, but this time, the government is offering full ownership. The last privatization effort in 2020 failed when investors were concerned about the airline's financial issues. The government is hopeful that improved conditions will lead to a successful sale. In a related matter, the UK Department for Transport stated that PIA remains on its air safety list, affecting its ability to operate flights to the UK. The airline was banned after a scandal regarding fake pilot licenses, which has cost it significant revenue. PIA has recently resumed flights to Europe and hopes to expand its operations in the UK once the safety ban is lifted. However, PIA noted that the UK Department for Transport has not confirmed any changes regarding their operational status yet. The airline continues to communicate with UK officials regarding the matter.