Prime Minister Shehbaz Sharif was expected to announce a significant reduction in electricity prices on April 3 (Thursday).

According to details, this much-anticipated announcement came after ongoing consultations with the International Monetary Fund (IMF) regarding a substantial reduction in electricity tariffs.

Sources divulged that the Prime Minister's office had invited leading business figures from across the country to a meeting, where the prime minister will brief the business community on energy sector reforms.

The meeting, scheduled to take place at the Prime Minister’s office, will also include Cabinet members and other prominent figures.

According to reports, the government had already persuaded the IMF to approve a reduction of one rupee per unit in tariff disparities.

Following the IMF’s approval, a formal application was submitted to the National Electric Power Regulatory Authority (Nepra).

During the upcoming meeting at the Prime Minister’s office, hundreds of traders were expected to engage in detailed discussions on reforms within the energy sector.

Sources confirmed that PM Shehbaz will address the nation tomorrow.

Also Read: PM to announce good news for masses: Khawaja Asif

Defence Minister Khawaja Asif said on Wednesday that tomorrow Prime Minister Shehbaz Sharif will announce good news for the masses.

Taking to X (formerly Twitter), Asif said: "The announcement which will be made by the premier will be the outcome of the all-out efforts from 2022 and the blessings of the Higher Power."

"It is the topmost priority of the Pakistan Muslim League-Nawaz (PML-N) and allies to serve the masses," Asif said.

"Hopefully, the journey of the country's development and economic revival will continue," he added.