Prime Minister Shehbaz Sharif announced a significant reduction in electricity tariffs for all consumer categories during a ceremony in Islamabad on Thursday.

Domestic consumers will see rates drop by Rs. 7.41 per unit to Rs. 34.37 per unit, while industrial users will benefit from a Rs. 7.59 per unit decrease, bringing their rate to Rs. 40.6 per unit. These new rates represent substantial reductions from June last year, when domestic and industrial consumers paid Rs. 48.70 and Rs. 58.50 per unit, respectively.

The announcement follows a notable decline in electricity consumption, which fell below 7,000MW during the recent Eid-ul-Fitr holiday period.