NEPRA approves 47% increase in electricity prices

Islamabad: National Electric Power Regulatory Authority (NEPRA) has approved an Rs7.91 increase per unit of electricity, ARY News reported. 

According to a notification issued by NEPRA, the government has increased the basic tariff per unit of electricity by Rs7.91. The per-unit price has been increased from Rs16.91 to Rs24.82, which is a 47% hike in prices.

NEPRA said that the price hike has been made due to an increase in fuel prices and increases in the cost of production. The new rates would be applied from July 2022, it added.

Also Read: NEPRA hikes electricity prices for K-Electric consumers

On May 27 NEPRA notified an increase in power tariff for K-Electric has been raised by Rs4.83 per unit under fuel adjustment charges for the month of March against demand in the hike of Rs5.27 per unit.

The government had also increased petroleum prices by Rs30 on May 26, 2022. The price for per litre petrol had been increased from Rs150 to Rs179.86. The price of per litre diesel had been increased to Rs174.15, while lite diesel will be sold at Rs148.31.

The increase in petroleum prices was important to get the $0.9 billion loan from the International Monetary Fund. In conclusion in week-long negotiations between the IMF and the Pakistani delegation, IMF had linked the loan with the increase in petroleum prices.