NEPRA jacks up power tariff by Rs3 per unit

Islamabad: The National Electric Power Regulatory Authority (NEPRA) on Friday considering to hike Rs3 per unit in electricity price in wake of the new International Monetary Fund (IMF).

There are proposals to increase the cost of power by Rs3 per unit in response to the recent International Monetary Fund (IMF) agreement with Pakistan.

Moreover, the average cost of power will rise from Rs 29 to Rs 33 as a result of this hike. Taxes included, the price per unit could exceed Rs 53.

According to reports, the government recently promised the IMF that it will increase electricity prices by Rs 8 per unit. As a result, the cost of power was already raised a few days ago by Rs 4.96.

There is currently a plan to raise it by an additional Rs 3 per unit. To support this price increase, the government will provide a working paper to the National Electric Power Regulatory Authority (NEPRA).

According to sources, an official notification would be sent out after NEPRA approves the hike. In order for the government to earn Rs 3 trillion and 495 billion in revenue during the current fiscal year, there must be a price increase.

In an effort to raise additional funds, the government recently announced that radio fees would be added to electricity bills. As a result, customers will need to add Rs15 to their monthly bills for radio fees.