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ISLAMABAD: The National Electric Power Regulatory Authority (Nepra) on Tuesday approved Rs1.25 per unit increase in the power tariff on account of fuel charges adjustment for last quarter (April-June) of the fiscal year 2022-23.
The power distribution companies (Discos) had requested the regulatory body to increase the price which would be charged in the bills for the months of July, August and September.
Meanwhile, the latest increase will be applicable to all consumers – except those falling in the lifeline category – across the country the region covered by the K-Electric.
The most recent action, which comes amid alarming inflation, can be characterized as the tip of the iceberg. Pakistan has secured a $3 billion deal with the International Monetary Fund (IMF), but it comes with conditions that will undoubtedly place additional burdens on the already vulnerable population.
Thus, it is now anticipated that the government will increase the cost of energy and gas before the IMF Executive Board meeting on July 12. Why? As the IMF Executive Board will give final approval to the Stand-by Arrangement (SBA) between the two sides, it is imperative to satisfy the goals established by the top lender in the world and ensure there is no snag.
And this increase is nothing small – Rs3.50 hike in the per unit base price of electricity and 45 to 50 per cent hike in the gas tariff.
It will certainly be a painful measure for the masses, triggering a chain reaction when it comes to the inflation that is already touching the unbearable level for an overwhelming majority.
