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- March 30, 2024
- Kainat Shakeel
- 0
ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has approved a hike in power tariff of Rs2.75 per unit for the current fiscal year 2023–24 quarter, placing an additional burden of Rs85.2 billion on consumers. The most recent increase was authorized as a quarterly adjustment for the second quarter of FY2023–2024, and it will affect every customer uniformly by Rs2.75 per unit. The power regulatory body said on Thursday that the two quarterly adjustments that are currently in effect, which are currently worth Rs4.43 per unit, will no longer be in effect as of March 30, 2024.
Furthermore, it stated that the authority has chosen to implement the second quarterly adjustment starting in April 2024, following the expiration of the current applicable adjustments. Except for lifeline customers, “XWDISCOs and K-Electric” customers will be charged the additional amount on their April, May, and June electricity bills. The federal government will be informed following the final approval of the Nepra’s decision regarding the new power tariff hike.
According to The News, Nepra approved an increase in electricity prices earlier in January of Rs4.12 per unit due to a “monthly fuel adjustment” for all customers, except Lifeline and K-Electric customers. Just two days before raising the power tariff for customers of other DISCOs, the authority approved a hike of Rs2.87 per unit for K-Electric customers before approving the increase in January. The International Monetary Fund (IMF) and Pakistan recently inked a Stand by Agreement (SBA) for a third tranche of loans totaling $1.1 billion. As part of this agreement, the IMF requested assurances from the government on several issues, including raising gas and electricity rates on July 1, raising quarterly tariff adjustments, and making adjustments under fuel price adjustments.