The Federal Government has decided to increase the electricity tariff by Rs. 7 per unit in order to meet the demands of the International Monetary Fund (IMF) and restore the $6 billion programme, which is needed by the country to boost the economy.
According to the details, the hike of Rs. 7 per unit in the electricity tariff would be implemented as an increase in basic tariff and monthly Fuel Charges Adjustment (FCA).
The hike in the power tariff will be applicable from July 1, 2022.
Furthermore, the IMF has asked the government to immediately privatize the profitable electricity distribution companies, while handing over the loss-making DISCOs to provinces.
It is pertinent to mention that as per IMF demand, the Federal Government has also announced a massive hike the petroleum products by Rs. 30 per litre.