Pakistan, April 2 -- Prime Minister Shehbaz Sharif is expected to announce a reduction in electricity prices during a high-level meeting tomorrow. The meeting, scheduled for 2:00 PM, will be attended by key federal ministers. The prime minister is likely to reveal a Rs8 per unit reduction in electricity tariffs.

The tariff cut comes after a series of measures, including the cancellation of agreements with six Independent Power Producers (IPPs). The government also revised contracts with 16 IPPs and shifted bagasse power plants' currency from the US dollar to the Pakistani rupee. Additionally, the return on equity for government power plants will be reduced.

Officials noted that the tariff reduction also takes into account the impact of ...