Pakistan Rupee Exchange Rate
Former Prime Minister and Pakistan Muslim League (PML-N) supremo Nawaz Sharif announced on Friday a significant reduction in electricity bills for the residents of Punjab.
During a press conference held in Lahore, the President of the Pakistan Muslim League-Nawaz (PML-N), Mr. Nawaz Sharif, declared that consumers utilizing up to 500 units of electricity in Punjab would be eligible for a reduction of Rs 14 per unit for the months of August and September.
Addressing the media alongside the Chief Minister of Punjab, Ms. Maryam Nawaz, Mr. Sharif voiced his concerns regarding the prevailing economic challenges faced by the populace, particularly the escalating inflation and the soaring costs of electricity.
“I am acutely aware of the hardships faced by the public due to inflation and the exorbitant electricity bills. My thoughts often return to the period of 2017, when inflation was under control and electricity bills were more manageable,” Mr. Sharif remarked.
He underscored the significant contrast between his tenure and the current economic scenario, recalling that during his government, the value of the US dollar was maintained at Rs 104 for four consecutive years, interest rates were as low as 5 percent, and essential commodities were reasonably priced.
“During my government, the country was on a path to prosperity. Presently, the situation is dire, with the public grappling to meet their basic needs,” he lamented.
Mr. Sharif criticized the preceding administration, particularly the leadership of the Pakistan Tehreek-e-Insaf (PTI), for the nation’s current economic challenges. “The individuals responsible for the current state of the country must be held accountable. Those who orchestrated the economic crisis are unforgivable,” he asserted.
Highlighting the accomplishments of his administration, Mr. Sharif pointed to the eradication of load-shedding and the swift completion of power plants.
“We were handed a country plagued by 18-hour power outages. We constructed power plants and ended load-shedding within a span of three years, without resorting to an increase in electricity prices,” he stated.
Mr. Sharif also commended Ms. Maryam Nawaz for her efforts in reducing the prices of essential commodities and enhancing public services within Punjab. “Ms. Maryam has dedicated herself to lowering the costs of flour and bread, as well as improving the health and education sectors in the province,” he noted.
He also reflected on Pakistan’s strategic achievements, recalling the moment his government successfully established Pakistan as a nuclear power and liberated the country from the IMF’s grip.
“Had we not been disrupted in 2017, Pakistan would have been in a much stronger position today,” he said, referring to his disqualification from office.
In addition to the reduction in electricity bills, Mr. Sharif announced a commitment of Rs 700 billion towards a solar panel scheme for Punja. He called upon the current administration to continue its efforts in easing the financial burden on the public, emphasizing the importance of sustainable solutions to the ongoing energy crisis.
This announcement is a strategic move by the PML-N to regain public support in the run-up to the forthcoming elections, positioning itself as a party committed to economic relief and stability.
