New tariff is expected to be implemented from July 1, 2022
Islamabad: Ceding to the demands of the International Monetary Fund for the release of USD 1 billion tranche of the loan, the Pakistani government led by Prime Minister Shehbaz Sharif has decided to hike the electricity prices by Rs 8.
According to details, a substantial hike in the base price of electricity of up to Rs7-7.50 per unit is expected to be implemented on July 1, 2022 to ensure the restoration of the IMF programme.
According to the Ministry of Energy, the increase in the price of electricity will be in the form of a base tariff. The current average base tariff is Rs16.64 per unit, which is likely to increase by Rs7 to Rs7.50 per unit to Rs24.14 per unit.
NEPRA has completed hearings on the revenue requirements applications of 10 power distribution companies. A decision on the applications is expected this week. Following the decision of NEPRA, the Power Division will make the final decision while the federal government will also decide on the targeted subsidy.
Forensic report confirms presence of CM Sohail Afridi in May 9 incidents
- 10 hours ago
Preparing youth for digital economy: inside Pakistan’s wealth university
- 9 hours ago
How the US shut the door on asylum-seekers
- a day ago
Foreign remittances hit record high of $3.6bn in December
- 9 hours ago
Pakistan reiterates support for Somalia's sovereignty, integrity
- 5 hours ago
Iran warns Washington it will retaliate against any attack
- 8 hours ago
Bob Weir, Grateful Dead co-founder and rhythm guitarist, dead at 78
- 7 hours ago
Islamabad: Cylinder blast in wedding house leaves eight dead, 11 hurt
- 8 hours ago
Bangladesh players act normal despite controversies, says Shanto
- 7 hours ago
Want closer friendships? Find your “strawberry people”
- a day ago
Pakistan Navy ships visit Port Sultan Qaboos
- 9 hours ago
Mainly cold, dry weather expected in most parts: Met Office
- 9 hours ago
