Government announces reduction in electricity prices across Pakistan

Electricity consumers across the country have received relief as the government announces a reduction in electricity rates by up to 1.23 rupees per unit. According to a notification, state-run distribution companies (DISCOs) consumers will benefit from a 1.22-rupee reduction per unit, while K-Electric users will see a 1.23-rupee cut. This price reduction stems from the monthly fuel price adjustment. For DISCOs, the reduction applies to the fuel charge adjustment (FCA) for December, while K-Electric consumers will see the reduction applied to November's FCA. The change will be reflected in February's electricity bills. The developments came earlier in the day when Prime Minister Shehbaz Sharif said the International Monetary Fund (IMF) had conveyed that it would not oppose a reduction in electricity prices.