The federal government has announced Rs1.74 per unit increase in electricity prices on the account of quarterly fuel adjustment.
The government has issued a notification, stating that the new prices will be applicable to all Distribution Companies and K-Electric.
The move would put an additional burden of Rs43.23 billion on electricity consumers. The additional amount will be recovered in electricity bills for the month of September, October and November 2024.
The National Electric Power Regulatory Authority had sent its decision for hiking the power tariff on September 6 for final approval.
Meanwhile, the government is likely to cut petrol and diesel prices in fourth consecutive fortnight review on September 15.
A report shared by a local publication suggests that prices of major petroleum products, including petrol and high-speed diesel are expected to decrease by about Rs10 per litre starting September 15, unless the government opts to raise the petroleum levy.
Global oil prices moved down by around $5 per barrel in the last couple of weeks. Considering the final exchange rates and existing tax rates, the expected price drop in Pakistan is around Rs10-11 per litre. The government might increase the petroleum levy by Rs5 per litre to take advantage of the lower international prices and address a Rs100 billion revenue shortfall for the initial two months of the fiscal year.
