The National Electric Power Regulatory Authority (NEPRA) proposed a substantial increase of nearly Rs5 in the base price for power, resulting in an overall rise of Rs4.34 per unit in the power tariff. This decision comes at a time when the citizens of the country are already facing financial strain due to record-high prices of essential commodities like food and fuel.
In light of the government’s commitments made with the IMF, the federal cabinet has granted its approval for the surge in electricity base tariff. This move is seen as a necessary step to meet the conditions set forth by the IMF and to secure financial stability for the nation.
The power tariff increase will have varying effects on different categories of residential consumers. Authorities have suggested a surge of Rs3 per unit for non-protected residential consumers using up to 100 units. On the other hand, residential consumers utilizing above 700 units will face a higher hike of Rs7.5 per unit. This differentiation aims to strike a balance between economic stability and supporting low-power consumers.
In recent developments, Pakistani Premier Shehbaz Sharif has reassured IMF Chief Kristalina Georgieva and other officials of his government’s commitment to uphold the agreements reached with the multilateral lender. This commitment is crucial to ensure financial aid and assistance during these economically challenging times.