LAHORE/ ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif Tuesday said that on the historic day of May 9, the Pakistan Army bravely and skillfully confronted the enemy, and after achieving victory in the war, Pakistan’s global prestige was elevated.
“The world witnessed how our air, land and naval forces displayed valour, expertise and modern technology to decisively defeat a much larger adversary in a remarkably short time,” he said while addressing the inauguration ceremony of Pak Business Express and newly upgraded passenger facilities at the Lahore Railway Station.
“I am a witness to every single moment of it,” he said. “Pakistan handed India a historic defeat in the war, which stands as a living testament to Pakistan’s diplomatic success.”
He further mentioned that US President Donald Trump repeatedly claimed, “We stopped the war. Whenever the American president says, ‘We halted the Pakistan-India war’, Modi’s wounds are reopened.”
The prime minister emphasized, “Our nuclear assets are the guarantors of national security. The enemy does not dare to look at us with ill intent.”
Shehbaz vowed to make Pakistan Railways a modern, reliable and affordable mode of transport for all citizens, not just the elite.
He expressed delight over the visible transformation of the historic railway station, which he visited after a long interval. He lauded the digitisation of the ticketing system, the availability of Wi-Fi facilities, and the outsourcing of services to ensure professionalism and efficiency.
Shehbaz directed the Railways authorities to ensure punctuality and transparent outsourcing of Railways land and services, making them profitable assets for the nation. He emphasised that the transformation of railways must continue across the country—from Peshawar to Karachi, Rohri, and Quetta—turning it into a reliable network on par with global standards.
The newly launched Pak Business Express will operate between Lahore and Karachi in 18 hours and 30 minutes, with an economy-class fare of Rs5,100.
He said Pakistan and China are progressing on new paths of development, while Pakistan-US relations are entering a new phase. He added that the national economy is moving in the right direction, and the railway sector is showing visible positive change.
Earlier, the prime minister visited various sections of Lahore Railway Station, including the passenger lounge and reception area, praising the new arrangements. He later inaugurated the Pak Business Express Train and inspected its coaches.
Meanwhile, chairing a meeting of the Cabinet Committee on Energy at the PM House, the prime minister termed the substantial decline in power distribution companies’ (Discos) losses as a highly encouraging development and the first of its kind in decades.
In the meeting, it was told that the power sector circular debt has been reduced from Rs2.381 trillion to Rs780 billion by paying the loans of Rs683 billion parked in Power Holding Company Limited PHL loans clearing the remaining stock of interest-bearing arrears to power producers (Rs 569 billion). However, IMF had given the target to reduce the power sector circular debt to Rs561 billion by June 2025.
Shehbaz stated that this financial improvement would greatly facilitate the privatisation of Discos. “The reduction in losses marks a turning point for the energy sector, making the road to privatisation smoother and more realistic,” he remarked.
He commended Federal Minister for Power Division Sardar Owais Ahmad Leghari, Federal Secretary Dr Muhammad Fakhare Alam and their team for their commendable work in advancing reforms in the power sector. He directed that letters of appreciation be sent to the CEOs of the high-performing Discos responsible for cutting losses effectively.
According to a briefing by the Power Division, total losses in power distribution companies have decreased by Rs193 billion, with an overall improvement of Rs242 billion. Among the top performers in reducing financial losses were Lahore Electric Supply Company (Lesco) and Multan Electric Power Company (Mepco).
In a major policy move, the Cabinet Committee on Energy (CCOE), paved the way for a free power market—the Competitive Trading Bilateral Contract Market (CTBCM)—in Pakistan, which is expected to become functional by the end of September 2025. The committee approved wheeling charges of Rs12.55 per unit to facilitate the new market structure.
Regarding the free power market, officials stated that 800 MW of electricity had been allocated for trading between suppliers and bulk buyers over five years. In the first year, 200 MW would be traded, followed by 150 MW annually in the subsequent four years.
Under the new market structure, electricity will be auctioned based on stranded costs—idle capacity—which may range between 50 to 100 paisas per unit. This marks a significant shift in Pakistan’s power sector, transitioning from a government-dominated monopoly to a competitive wholesale electricity market.
Top officials from the power regulator explained that the CTBCM regime would introduce a system of multi-sellers and multi-buyers. Buyers will pay transmission and distribution “use of system” charges for the electricity they trade bilaterally. Currently, the government controls power sector investments, owns power plants, and sells electricity exclusively through Discos, leaving consumers with no alternative suppliers.
Under the new competitive market, bulk consumers will be able to purchase electricity from private suppliers, traders and generation companies at mutually agreed rates.
The newly licensed Independent System and Market Operator of Pakistan (ISMO) (Guarantee) Limited is preparing to commence operations by September 2025, enabling market-based trading. The market will open in phases, starting with the establishment of wheeling charges and regulatory frameworks.
However, in the summary submitted by the Power Division seeking approval for amendments to the National Electricity Plan Strategic Directive 87, the Commerce Ministry opposed including stranded costs in wheeling charges, arguing that it would give an unfair advantage to existing power companies and disadvantage new competitors. Additionally, the Ministry of Planning, Development, and Special Initiatives noted that the proposed cap might slow down market liberalisation.
The PM expressed solidarity with the people of China following the tragic loss of lives and large-scale displacement caused by recent torrential rains and landslides in the country. “We are deeply saddened by the tragic loss of lives and displacement caused by the recent torrential rains and landslides in China. On behalf of the people of Pakistan as well as on my own behalf, I extend our heartfelt condolences to the bereaved families and all those affected.”
Separately, in his message on the World Day Against Trafficking in Persons, the prime minister reaffirmed Pakistan’s firm commitment to eradicating human trafficking and protecting vulnerable citizens from exploitation.
