Meeting one of the demands of the International Monetary Fund (IMF), the government on Saturday approved Rs8 per unit increase in the price of electricity for both domestic and commercial consumers, reported 24NewsHD TV channel.
Electricity’s basic as well as quarterly tariff will be raised while arrangements are also being made to withdraw subsidy.
It has been learnt that the government is even ready to withdraw the subsidy it had offered to the export sector.
The tariff under the head of quarterly adjustment will be increased gradually.
Only in the ongoing month of February, power rates under the head of quarterly adjustment will be raised by Rs4.46 per unit.
The government also plans to reduce line losses.
The government also okayed surcharge of Rs3.39 per unit to be immediately included in the bills of consumers.
As a consequence of the withdrawal of subsidy, electricity prices will reach Rs23.39 per unit in June.
On the other hand, people should now brace for further hike in the power tariff as a petition has been filed by the power distribution companies in the National Electric Power Regulatory Authority (NEPRA).
The Authority will hear the petition for increase in the electricity rate under the head of quarterly adjustment on February 22, 2023.
If request accepted, the increase will enable them to receive over 17.19 billion from the consumers.
LESCO has requested for receiving over Rs6.34 billion; GEPCO over Rs6.56 billion; FESCO over Rs4.47 billion; MEPCO over Rs2.40 billion and IESCO over Rs1.32 billion from the consumers.
Reporter: Waqas Azeem