Govt Approves Electricity Tariff Increase of Up to Rs. 7.5 Per Unit
The federal cabinet has approved a huge increase in electricity costs in an effort to meet IMF requirements.
With people already feeling the effects of inflation, the decision to boost electricity costs was a severe shock to the system.
Electricity costs more now, at Rs. 7.50 per unit rather than the previous Rs. 3. This significant price change was authorized by the federal cabinet and put into circulation.
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Rate hikes for the current fiscal year have already been approved by NEPRA, the National Electric Power Regulatory Authority. NEPRA has been asked by the federal government to consider a request for an increase in the basic power rate; a hearing will be held before a decision is made.
The planned changes to prices shift depending on consumer behavior. Electricity users who consume 100 units will pay Rs. 3 more each unit. Those utilizing between 101 and 200 units will pay Rs. 4 per unit when the proposal is approved.
A similar suggested price increase of Rs. 5 per unit applies to those who use 201 to 300 units of power per month. There would be a price hike of Rs. 6.50 per unit for consumers utilizing 301 to 400 units. For those who use 400 to 700 kilowatt hours each month, the government has recommended a considerable hike of Rs. 7 per unit.
After Nepra’s review is complete, the federal government will formally announce its intention to raise tariffs. On July 1st, a price hike is expected to go into effect.
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