Power minister assures slashing power tariffs at 'right time'

• PM to announce "good news" soon, says Awais Leghari.
• "We stand by our pledge [to slash electricity prices]", he says.
• Announces slashing electric vehicle charging rates to Rs39 per unit.

Power Minister Awais Leghari has assured that the government was committed to slashing power tariffs and the reduction would happen at the "right time", The News reported on Wednesday.

Speaking to reporters after inaugurating Pakistan’s first-ever 120-kilowatt fast charging station in Islamabad, Leghari said that  Prime Minister Shehbaz Sharif would soon announce "good news" regarding electricity prices and said: "The reduction will happen at the right time, whether two days earlier or later."

Responding to concerns over fuel pricing, the minister underscored the government's resolve to provide relief.

"We stand by our pledge. Our commitments are not like those of the previous government," he remarked when asked about whether consumers would be compensated for the fuel price decision.

The minister's statement comes against the backdrop of mounting public frustration after an anticipated Rs8 per unit tariff cut failed to materialise in the prime minister's Pakistan Day speech.

It is to be noted that the PM Shehbaz-led government had decided to keep fuel prices steady on March 15 despite global oil price drops, increasing the petroleum levy by Rs10 per litre instead.

It was pledged that financial savings would be redirected toward lowering power tariffs. At the inauguration event, the minister also announced a reduction in electric vehicle charging rates from Rs71 to Rs39 per unit, making clean energy adoption more affordable.

The minister's remarks come after it was reported that Seven independent power producers (IPPs) have offered to cut electricity tariffs by up to Re0.50 per unit and waive over Rs11 billion in late payment surcharges — on the condition that the government withdraw all ongoing legal proceedings and investigations into alleged excessive profits.

In a joint tariff revision request submitted to the National Electric Power Regulatory Authority (Nepra), the IPPs contended that fuel and operation and maintenance (O&M) cost recoveries had already been settled. 

According to the Central Power Purchasing Agency (CPPA) negotiations with these seven IPPs are expected to result in a reduction of up to Re0.50 per unit in electricity tariffs. 

They also highlighted that broader talks with multiple IPPs have so far secured financial benefits worth Rs950 billion over the lifetime of the power plants.

Furthermore, speaking at the inauguration event, Leghari also announced a reduction in electric vehicle charging rates from Rs71 to Rs39 per unit, making clean energy adoption more affordable. He praised private-public partnerships for driving sustainable energy initiatives, calling the fast-charging station a milestone in Pakistan’s transition toward green mobility. During his address, the minister emphasised the government’s ongoing commitment to a cleaner, greener future.