The government has decided to maintain petroleum prices at their current levels and transfer the financial benefits to the public through reduced electricity costs, according to a statement from Prime Minister’s Office.
“We have decided to maintain petroleum prices at their current levels and transfer the full financial benefit to the public by reducing electricity prices,” the Prime Minister said.
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The premier emphasised that this measure is one of many aimed at achieving a meaningful reduction in electricity tariffs.
“This step is among several others that will lead to a significant reduction in electricity prices,” he added.
“A comprehensive and effective strategy is being prepared under which a package is being developed to reduce electricity prices. The details are being finalized,” the Prime Minister said.
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The relief package will utilize the financial flexibility created by fluctuations in global oil prices and other measures to provide substantial relief to the public.
“The financial space created by changes in global oil prices and other measures will be used to provide significant relief to the public through reduced electricity costs,” he explained.
The Prime Minister reiterated his government’s commitment to prioritizing public relief since taking office. “Upon assuming office, we pledged to prioritize public relief,” he said.
He also expressed his determination to provide further ease to the public in the coming weeks. “In the next few weeks, we are committed to providing relief and further easing the burden on the public by reducing electricity prices,” he stated.
The Prime Minister highlighted that the relief measures would not only reduce electricity prices but also have a broader impact on inflation.
“This relief will not only lower electricity prices but will also contribute to a further reduction in overall inflation,” he said.
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