Power rate increased by Rs5.75 per unit on strict condition of IMF: PM Shehbaz Sharif

LAHORE (92 News) - Prime Minister Shehbaz Sharif has said that the power rate was increased by Rs5.75 per unit on the strict condition of the International Monetary Fund (IMF).

He was speaking at signing ceremony of the LNG agreement with Azerbaijan on Monday. He said that there will be no increase in the power tariff up to 200 units, while there will be no burden on 63 percent domestic consumers.

The prime minister said that Pakistan will purchase a ship each month from Azerbaijan.

APP adds: Prime Minister Shehbaz Sharif said it was really a great day as they are standing here as brothers from two brotherly countries Pakistan and Azerbaijan. “We had extremely productive and very fruitful discussion over there as to how to promote economic relations between the two friendly countries,” he said, adding that immediately on his return to Pakistan, the Pakistan government extended approval to the Azerbaijan airline to land in Islamabad, Lahore and Karachi.

“This is a big step forward to promote tourism and investment and exchange of delegation between the two countries.”

The prime minister also appreciated and thanked Finance Minister Ishaq Dar, Dr Musadik Malik, secretary petroleum, Pakistan’s ambassador in Azerbaijan, CEO SOCAR Trading, and MD PLL for their work to conclude the framework agreement.

Ambassador of Azerbaijan in Islamabad on the occasion said this framework agreement would help further strengthen bilateral economic relations. He said cooperation between the two countries had remained sustainable since start of the diplomatic ties between the two brotherly countries.

He said approval of giving airspace to the Azerbaijan airline would increase the number of visitors and business delegation between the two counties.

He informed that a team of horticulture experts from Azerbaijan was arriving here in Pakistan to share their first hand experience in the sector with the Pakistani authorities.