Islamabad (Web Desk): The government on Wednesday approved up to 51% or Rs7.12 increase in the per-unit price of electricity from July, the highest raise in terms of percentage for the lower income groups.
The National Electric Power Regulatory Authority (NEPRA) had initially proposed this increase to the federal government. Following the cabinet’s decision, the proposal will be sent back to Nepra to establish a uniform tariff. Upon Nepra’s approval, the federal government will issue the necessary notification to implement the new rates.
Sources indicate that the federal government is required to enact this tariff increase by July 10 as part of the IMF’s stipulations. The approved hike will result in an additional financial burden of approximately Rs600 billion on electricity consumers.
For the financial year 2024-25, Nepra has sanctioned an increase in the average basic electricity tariff from the current Rs29.78 to Rs35.50 per unit. This adjustment follows a Rs7.50 per unit increase for the fiscal year ending June 30, 2024, and a Rs7.91 per unit rise implemented in three phases during the financial year 2022-23.
The latest tariff hike will take effect from July 1, 2024, as part of the federal government’s efforts to comply with IMF conditions and stabilize the country’s economic framework.