The Adjustment that comes to the rates of electricity and Gas Prices is always done by the International Monetary Fund (IMF). the adjustment of these rates is done to to secure a loan tranche. Do You Know that NEPRA has recently given their approval to increase the rates of electricity bills? The decision that NEPRA took got mixed signals from the citizens. Some are worried about the increase in cost while others are arguing that it is an important decision. NEPRA has stated in a statement that this decision to hike the tariff was made after extensive consultations with all stakeholders, including the power generation companies, distribution companies, and consumer groups. The authority has also emphasized that the increase in tariff is minimal and necessary for maintaining the financial viability of the power sector.
New Electricity Rate in April 2024
From the beginning of April electricity bills in Pakistan will increase by Rs2.75 per unit. This new rate is approved by NEPRA. This increase in the bill rates is a part of the quarterly adjustment. New Rates of Electricity are going to affect people. As we all know Pakistan is going through a financial crisis so increasing the rate of electricity and gas prices every month. At the start of 2024 in January NEPRA increased the Electricity bill by an increase of Rs 4.12 per unit unit for most consumers, excluding Lifeline and K-Electric customers. This was attributed to monthly fuel adjustments.
Latest Electricity Prices in Pakistan
The latest hike which is approved in terms of quarterly adjustment, is worth Rs85.2 billion in total for the second quarter of FY2023-24, having a uniform impact of Rs2.75 per unit on each consumer. NEPRA approved that now the consumers will have an additional burden of Rs2.75 per unit in April.