Power tariff hiked for K-Electric consumers

The federal cabinet has approved an increase in the power tariff for K-Electric consumers up to Rs4.76 per unit in term of quarterly adjustment, ARY News reported on Thursday.

The recent power tariff hike was approved in term of two different quarterly adjustments. In the current fiscal year, Rs3.21 per unit was increased in the first quarter, whereas, Rs1.55 per unit was hiked in the second quarter.

The hike was made to maintain the uniform power tariff across the country. The additional payments will be received from the consumers from March to May 2023.

READ: IMF TERMS: GOVT TO INCREASE POWER TARIFF FOR KE CONSUMERS

Earlier in the month, it was learnt that Pakistan accepted another pre-condition of the International Monetary Fund (IMF) for the revival of $7 billion Extended Fund Facility (EFF) as the government agreed to increase electricity rates for consumers of K-Electric (KE).

The federal government has decided to apply uniform tariff for consumers of K-Electric (KE) as Pakistan eyeing to revive $7 billion Extended Fund Facility (EFF) stalled for months.

According to documents, the implementation of uniform tariff will increase electricity rates by an average of Rs3.21 per unit.

READ: IMF TERMS: GOVT JACKS UP POWER TARIFF FOR AGRICULTURAL SECTOR

The residential consumers using over 100 will be charged Rs1.49 per unit and those consuming 700 units will pay Rs3.21 per unit. Meanwhile, the power tariff for temporary residential customers and industrialists will be increased by Rs4.45 per unit.

The government also decided to increase electricity rates by Rs1.55 for consumers on a quarterly basis. It has also been decided to increase the quarterly rate of customers from July 2022 to September 2022.

Moreover, the government would also increase the quarterly rates for consumers from March 2023 to May 2023.