The National Electric Power Regulatory Authority has green lit a hike in electricity tariffs in the country.
The development comes not long after Pakistan Muslim League-Nawaz leader Shehbaz Sharif became the prime minister of Pakistan after a no-confidence motion removed Pakistan Tehreek-e-Insaf Chairman Imran Khan as the premier.
According to details available, NEPRA has ratified an electricity price increase of Rs4.85 per unit, owing to the fuel charges adjustment for the month of February 2022. The increased power prices will be implemented in the April 2022 bills.
This increase in the electricity price will place a burden of Rs38 billion on the consumers, which includes General Sales Tax. Fuel charges adjustment will appear independently in the electricity bills which will be based on units utilized during the month of February 2022.
Former prime minister Imran Khan had decreased the power tariff from March 2022, promising that electricity prices will not be increased until the next fiscal year budget. Moreover, fuel prices in Pakistan are expected to go up by around Rs80 to Rs120 per liter based on recommendations by the Oil and Gas Regulatory Authority (OGRA).