In a bid to comply with IMF conditions, the federal cabinet has given the green light to yet another substantial electricity price hike.
This decision has come as a powerful shock to the masses, who are already struggling with the impact of inflation.
According to the newly approved tariff structure, the cost per unit of electricity has been raised from Rs. 3 to Rs. 7.50 per unit. This major price adjustment was passed through circulation by the federal cabinet.
Prior to this approval, the National Electric Power Regulatory Authority (NEPRA) had already granted an increase in electricity tariffs for the current financial year. The federal government had requested NEPRA’s approval for raising the basic electricity price, and the authority is expected to hold a hearing on the matter before reaching a final decision.
The proposed price adjustments vary based on consumption levels. For consumers using up to 100 units of electricity, the price increase per unit is set at Rs. 3. Those consuming 101 to 200 units will face an electricity rate of Rs. 4 per unit after the proposal’s acceptance.
Likewise, electricity consumers using 201 to 300 units will experience a proposed price hike of Rs. 5 per unit, while those consuming 301 to 400 units will see an increase of Rs. 6.50 per unit. Additionally, the government has suggested a significant increase of Rs. 7 per unit for consumers utilizing 400 to 700 units of electricity.
Once NEPRA completes its evaluation, the federal government will issue a formal notification to implement the proposed tariff hike, which was scheduled for July 1.
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