Former prime minister Nawaz Sharif announced on Friday a significant reduction in electricity bills for Punjab's residents.

In a press conference held in Lahore, the Pakistan Muslim League-Nawaz (PML-N) president stated that consumers using up to 500 units of electricity in Punjab would receive a relief of Rs 14 per unit for August and September.

Addressing the media alongside Punjab Chief Minister Maryam Nawaz, Sharif expressed his concern over the ongoing economic challenges faced by the public, particularly the rising inflation and surging electricity costs.

"I am fully aware of the hardships people are enduring due to inflation and the exorbitant electricity bills. My mind often returns to 2017, a time when inflation was under control, and electricity bills were manageable," Sharif remarked.

He stressed the stark difference between his tenure and the current economic situation, recalling that during his government, the value of the US dollar was maintained at Rs104 for four years, interest rates were as low as 5 percent, and essential commodities were affordable.

"Back then, the country was on a path to prosperity. Today, however, people are struggling to make ends meet," he lamented.

Sharif criticised the previous government, specifically the Pakistan Tehreek-e-Insaf (PTI) leadership, for the country's current economic woes. "The people responsible for bringing the country to this point must be held accountable. Those who engineered the economic crisis are unforgivable," he asserted.

Highlighting his administration's achievements, Sharif pointed to the elimination of load-shedding and the completion of power plants in record time.

"We inherited a country with 18-hour power cuts. We built power plants and ended load-shedding within three years, without raising electricity prices," he said.

The former premier also praised Maryam Nawaz for her efforts in reducing the price of essential commodities and improving public services in Punjab. "Maryam has worked tirelessly to lower the cost of flour and bread and to enhance the health and education systems in the province," Sharif noted.

Sharif also touched on Pakistan's strategic achievements, recalling how his government made the country a nuclear power and freed it from the clutches of the International Monetary Fund (IMF).

"If we had 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, Sharif announced a Rs 700 billion investment in a solar panel scheme for Punjab. He urged the current government to continue taking steps to alleviate the financial burden on the public, emphasizing the need for sustainable solutions to the ongoing energy crisis.

The announcement comes as a part of PML-N's broader strategy to regain public support ahead of the upcoming elections, positioning itself as a party focused on economic relief and stability.