Business
Rising power prices add to govt's financial burden: WB
Financial burden of the government has increased by more than 400 percent in five years
Islamabad: The World Bank said that the rapidly increasing electricity prices have increased the financial burden of the federal government of Pakistan.
According to the World Bank, the financial burden of the government has increased by more than 400 percent in five years due to the subsidies of the electricity sector and the rapidly increasing electricity prices have increased the number of protected households in Pakistan.
Protected electricity consumers are those who consume 200 units of electricity per month or less for six consecutive months.
According to a World Bank document, the increase in the number of protected electricity consumers has increased the subsidy burden on the federal government, with 94 percent of household consumers benefiting from budget and cross-subsidies at various stages in the fiscal year 2024.