Government Proposes Measures to Boost Affordability and Efficiency of Electricity Sector

• Cut electricity taxes and government charges by half to unlock electricity demand and drive industrial growth • Rationalize gas prices so domestic consumers pay a fair price based on income, not consumption • Reallocate available gas to efficient natural gas power plants rather than inefficient captive power • Swap out power plants' USD-denominated debt for rupee debt to hedge consumers from price hikes due to currency depreciation • Undertake reforms and make policy decisions to improve efficiency and prevent further misery for the people