In an effort to meet IMF requirements, the federal cabinet has approved yet another significant increase in electricity costs.
The decision to hike electricity costs came as a strong shock to the public, who are already dealing with the effects of inflation.
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The price of power per unit has been raised from Rs. 3 to Rs. 7.50 under the new pricing structure. This large price change through circulation was approved by the federal cabinet.
Previously, the National Electric Power Regulatory Authority (NEPRA) had approved an increase in electricity tariffs for the current fiscal year. The federal government requested that NEPRA raise the basic electricity tariff, and the authority is anticipated to hold a hearing before making a final decision.
The suggested price changes vary depending on usage levels. The price increase per unit is fixed at Rs. 3 for those who use 100 units of power. After the plan is approved, the electricity charge for individuals consuming 101 to 200 units will be Rs. 4 per unit.
Similarly, power users with 201 to 300 units will suffer a Rs. 5 per unit price increase. The price for individuals who use 301 to 400 units would rise by Rs. 6.50 per unit. Furthermore, the government has recommended a Rs. 7 per unit hike for consumers using 400 to 700 units of electricity.
Following the completion of Nepra’s evaluation, the federal government will issue an official notification to impose the planned rate increase.
