Outgoing caretakers take important decision about gas, electricity prices

ISLAMABAD: The Caretaker federal government has decided to empower the National Electric Power Regulatory Authority (NEPRA) and Oil and Gas Regulatory Authority (OGRA) to fix electricity and gas tariffs respectively without the government’s approval, ARY News reported.

According to details, the caretaker government has decided to end the government’s role in the regulation of gas, electricity, and petroleum products prices.

The sources privy to the development said that the federal cabinet through circulation approved amendments in separate rules of the OGRA, NEPRA, and Petroleum Division.

The sources said that after the amendments, OGRA, NEPRA, and Petroleum Division would be empowered to regulate the prices without government interference.

Besides, appellate tribunals would also be set up for public grievances under the amendments.

Read More: Electricity tariff increased by Rs7.5 per unit

Earlier in the day, in another shock to the already overburdened power consumers, the NEPRA has notified a hike of Rs7.5 per unit in the price of electricity as part of the fuel price adjustment (FCA).

The power sector’s regulatory authority approved increase in the electricity tariff by Rs7.5 per kilowatt hour (kWh) under the head FCA of January 2024 and this hike in power tariff will be charged to power consumers during the month of March 2024.

The increase will be applicable to all the consumer categories except lifeline consumers and the power consumers of K-Electric (KE). The hike in the power tariff will cause Rs66 billion worth additional burden on the already burdened power consumers.