Electricity prices likely to go down in Pakistan

ISLAMABAD: Good news for power consumers as the electricity prices are expected to go down in Pakistan, ARY News reported on Thursday.

As per details, electricity prices may decrease by 65 paisa per unit for one month under the monthly fuel price adjustment mechanism.

The Central Power Purchasing Agency (CPPA) has submitted an application in this regard, on which the National Electric Power Regulatory Authority (NEPRA) will hold a hearing today.

If approved, the reduction will also apply to K-Electric consumers. The request has been filed for the fuel price adjustment for October.

According to the application, hydropower generation accounted for 27.36% of the total electricity produced in October. Local coal contributed 12.76%, imported coal 4.71%, natural gas 9.16%, imported RLNG 19.72%, and nuclear power 22.13%.

Earlier, Prime Minister Shehbaz Sharif announced the ‘Roshan Maeeshat Bijli Package’ (Roshan Economy Power Package) to uplift Pakistan’s industrial and agricultural sectors.

The package was announced during a meeting with the delegation of the business community and experts from the industrial and agricultural sectors in Islamabad.

Under which industries and farmers will receive additional electricity at subsidized rates for the next three years, until October 2028.

Under the Roshan Maeeshat Bijli Package, industries and the agricultural sector will receive additional electricity at Rs.22.98 per unit for the next three years.

PM Shehbaz Sharif stated that the cost of electricity units currently priced at Rs.34 for industries will be substantially reduced, and additional units will be provided. Similarly, the rate of Rs.38 per unit for the agricultural sector will also be significantly lowered, with the provision of extra units.