The National Electric Power Regulatory Authority (Nepra) has allowed an increase in electricity tariff by Rs2.75 per unit for consumers in the current quarter of the fiscal year 2023-24, adding more financial strain on them.
This adjustment, totaling Rs85.2 billion for the second quarter of FY2023-24, will affect consumers uniformly with a charge of Rs2.75 per unit. The previous adjustments, totaling Rs4.43 per unit, will stop applying from March 30, 2024, according to Nepra’s announcement.
The new electricity tariff adjustment will start in April 2024 after the expiration of the current adjustments. This extra charge will show up in the electricity bills of April, May, and June for consumers of XWDISCOs and K-Electric, excluding lifeline consumers.
Nepra has sent its decision to increase power tariffs to the federal government, which will be officially confirmed later.
Earlier in January, Nepra agreed to a tariff increase of Rs4.12 per unit due to monthly fuel adjustments for all consumers except lifeline and K-Electric customers. Before that, Nepra had approved a tariff increase of Rs2.87 per unit specifically for K-Electric consumers just before raising tariffs for consumers of other Distribution Companies (DISCOs).
It’s important to note that Pakistan recently made a deal with the International Monetary Fund (IMF) to receive the third part of a $1.1 billion loan. As part of the deal, the IMF has asked the government to assure various measures, including increasing electricity and gas tariffs from July 1, along with raising quarterly tariff adjustments and making changes under fuel price regulations.
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