The federal Minister for Finance and Revenue, Miftah Ismail, has indicated that a decrease in electricity prices is possible by October, while the petroleum prices will be determined by the international market.
He stated this at a press conference that was attended by the federal Minister for Defence, Khawaja Muhammad Asif.
Minister Ismail mentioned that the electricity prices will likely drop in October. He added that the floods have washed away the cotton crops in Sindh, which will result in more cotton imports and a $1-2 billion additional trade deficit.
However, the prices of petroleum and diesel will be determined by the international market, he added.
Prior to this, the Islamabad Electric Supply Company (IESCO) had announced that domestic consumers with a power usage of up to 300 units in June will be exempted from paying the Fuel Price Adjustment (FPA).
As per the decision, domestic consumers will no longer pay FPA charges in their bills for August. Meanwhile, those who have already paid their bills for August will be recompensed in the September bills.
The development came after citizens protested against outrageous FPA charges for June in their bills. Resultantly, PM Shehbaz Sharif announced a relief package for the consumers who used less than 300 units of electricity.
IESCO’s spokesperson stated that it has facilitated to its consumers under the directives of Prime Minister Shehbaz Sharif and the federal Minister for Energy, Khurram Dastgir.
The spokesperson elaborated that the consumers who meet the above-mentioned criteria and have already submitted their August bills will be credited the FPA charges in the September bills, and assured that consumers do not have to visit IESCO’s offices for this matter.
Domestic users who used 200 units or less in the last six months have been provided relief of Rs. 6 per unit in their August bills, the spokesperson added.
