ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) has given its approval for imposing a permanent surcharge of Rs3.23 per unit on electricity consumers. This decision was made to comply with one of the conditions set by the International Monetary Fund (IMF).
MM News has learnt that the surcharge will burden the consumers with an additional Rs335 billion and will be applicable to all domestic, industrial, commercial, and agricultural consumers from the next financial year.
The recent permanent surcharge would even have to be born by K-Electric customers. Earlier, a surcharge of Rs3.82 per unit had been imposed until June this year.
It may be recalled that during an earlier public hearing, the Nepra Chairman had expressed concerns that the new surcharge would only pay off the interest on the power sector loan, leaving behind a massive circular debt of Rs2.6 trillion. The federal government had filed a petition requesting an increase in the power surcharge from Rs1.43 to Rs3.23 per unit for the next financial year.
The federal government argued that the previously approved power surcharge could not meet the requirement to pay off the interest on circular debt. During the hearing, it was informed that the Rs3.23 per unit surcharge would continue beyond the next financial year until the circular debt is cleared. This decision is expected to create a storm among the public, especially the industrial and commercial sectors.
