Electricity tariff in Pakistan reaches Rs35 per unit after fresh hike

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Electricity tariff in Pakistan reaches Rs35 per unit after fresh hike



KARACHI – The authorities of Pakistan have authorized an additional rise in the basic electricity price, increasing it by Rs5.72 per unit to reach a total of Rs34.50 per unit.


The Federal Cabinet has sanctioned a significant hike in the fundamental electricity rate as part of fulfilling the demands of the International Monetary Fund (IMF). This decision elevates the price from Rs29.78 per unit to Rs35.50 per unit.


The National Electric Power Regulatory Authority (NEPRA) had previously sought permission to incrementally increase the average electricity rate to meet the strict demands of a worldwide creditor. This increment is scheduled to become applicable from July 1st of this current fiscal year.


The International Monetary Fund (IMF) has shown approval for Pakistan's efforts in economic development. Through online meetings, Pakistan has shared its progress with the IMF regarding achieving the stipulated conditions.


The government is hopeful for advancements by the end of the month concerning a forthcoming IMF loan deal, which is anticipated to span between $6 billion and $8 billion over a period of three years.




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