ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday approved a three-month Rs50 billion ($179.5 million) subsidy package for electricity consumers using up to 200 units per month after backlash from the salaried class over the tax-laden federal budget that sparked debate over the rising cost of living in Pakistan.
The announcement came after the government approved approximately 51 percent increase in the cost of electricity last week for low-income consumers, with an aim to meet one of the conditions laid out by the International Monetary Fund (IMF).
Faced with a prolonged economic crisis, the Sharif administration is trying to secure yet another staff-level agreement with the IMF for a bailout of more than $6 billion.
“The government will spend Rs50 billion which has been taken out from the development funds,” the prime minister said while addressing a ceremony on energy reforms in Islamabad. “We are providing the facility for three months from July, August and September to households that spend 200 units.”
He maintained the decision would benefit 25 million households, which constitute 94 percent of the domestic electricity users, adding they would only pay four to seven rupees per unit including K-Electric consumers.
“These three summer months are hard to cope with but electricity consumption also declines when the weather gets pleasant in October,” he added.
Pakistan produces expensive electricity due to a combination of factors including high reliance on imported fossil fuels, inefficient energy mix, substantial transmission and distribution losses apart from chronic issues like circular debt and regulatory inefficiencies.
The outdated infrastructure and inefficient power plants further exacerbate costs, while underutilization of domestic resources, such as hydropower and coal, add to the problem.
Additionally, fluctuations in foreign exchange rates and complex tariff structures contribute to higher electricity prices.
Pakistan PM approves $179.5 million for low-income electricity consumers amid cost-of-living crisis
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Pakistan PM approves $179.5 million for low-income electricity consumers amid cost-of-living crisis
- Shehbaz Sharif says the decision will benefit 25 million households constituting 94 percent of domestic consumers
- The three-month subsidy package is for people using up to 200 electricity units until the change of weather
Pakistan cricket chief courts investors at UK roadshow as T20 league eyes expansion
- Mohsin Naqvi says the board is investing in infrastructure and high-performance training centers for players
- PSL features six teams and is expected to expand to eight, with its next edition scheduled for April and May
ISLAMABAD: Pakistan Cricket Board (PCB) Chairman Mohsin Naqvi said on Monday the board was investing in cricket infrastructure and high-performance training centers as he aimed to attract investors from the United Kingdom to buy Pakistan Super League (PSL) teams.
The remarks came during a PSL roadshow at Lord’s Cricket Ground in London, which brought together investors, franchise representatives and league officials to showcase the league’s commitment to global expansion, strategic partnerships and world-class entertainment.
PSL is Pakistan’s premier T20 cricket league, featuring six city-based teams competing for the title each year. The tournament’s 11th edition is expected to take place in April and May next year.
PCB has announced plans to expand the league by adding two new franchises this year, increasing the total number of teams to eight. The board said in a statement earlier this year it had already received “significant interest” from potential ownership groups in the UK for the two new teams.
“So, I will tell one thing to the investors, that we are not spending only money on the infrastructure, but also on the high-performance centers,” Naqvi said while speaking to the participants.
He highlighted that the PCB had recently renovated the Qaddafi Stadium in Lahore while the renovation of the National Stadium in Karachi was halfway done.
“We are building a new stadium in Islamabad ... [which will be] one of the best stadiums in Pakistan,” he added. “We are targeting Abbottabad. We are taking over Muzaffarabad stadium [in Azad Kashmir] also.”
The PSL roadshow aims to offer investors and cricket lovers an immersive introduction to the league, its commercial ecosystem and the strategic vision driving its next phase of growth.
Within a span of 10 years, PSL has competed for viewership with some of the most prominent cricket leagues around the world, including the Indian Premier League, the Big Bash League, the Hundred, and the Caribbean Premier League, among others.
