The federal cabinet has approved an increase in the base electricity tariff, effective from July 1, 2024.
The National Electric Power Regulatory Authority (NEPRA) had proposed a hike of Rs. 5.72 per unit.
NEPRA suggested raising the average basic electricity tariff from Rs. 29.78 to Rs. 35.50 per unit.
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Following NEPRA’s approval, the federal government will issue a notification to implement the new rates.
It should be noted that the International Monetary Fund (IMF) has requested Pakistan to increase the electricity tariff by Rs. 5 per unit before July 10, 2024, as a prerequisite for a new program. The lender has set hikes in electricity and gas prices as prior actions for the new program, making an increase in electricity prices very likely.
