The day of the tariffs

It was a strange spectacle. On the day the rest of the world was busy processing the meaning and impact of the trade tariffs announced by US President Donald Trump against almost 60 countries including Pakistan, Prime Minister Shehbaz Sharif had tariffs of his own to announce to his countrymen. In a live televised show with ample pomp and ceremony, flanked by his cabinet and before an audience of his ministers and senior bureaucrats, Prime Minister Shehbaz Sharif took to the podium to announce a reduction in power tariffs equal to Rs7.41 per unit for all households, and Rs7.59 for industry. These are figures for average reductions across various consumer categories and different slabs. The exact impact on household bills will vary, but for someone who consumes 1,000 units per month, the impact could be somewhere around Rs7,500.