NEPRA approves Rs5.72 increase per unit in basic tariff for electricity

Islamabad: The National Electric Power Regulatory Authority (NEPRA) on Friday approved an increase of Rs5.72 per unit in the base tariff for electricity.

The NEPRA said that this price hike is intended for the fiscal year 2024-25, and the decision was forwarded to the federal government for final approval.

Once the Prime Minister gives the final approval, the new base tariff for electricity will be effective from July 1, 2024. This adjustment will raise the average base tariff from Rs29.78 to Rs35.5 per unit.

The sources said that the federal cabinet would make the ultimate decision regarding the electricity price increase. They would also determine whether the increase would be applied all at once or in stages.

It may be mentioned here that in the current fiscal year, the federal government increased the base tariff for electricity by up to Rs7.50 per unit, while in the previous fiscal year, the base tariff was raised by up to Rs7.91 per unit.

For the fiscal year 2023-24, the base tariff for electricity saw a single increase, whereas in the fiscal year 2022-23, the increase was implemented in three phases.