An increase of Rs7.91 per unit in the electricity tariffs has been approved by the National Electric Power Regulatory Authority (NEPRA).
The new increase puts the price of a unit of electricity at Rs24.82. NEPRA has sent the price increase to the government for a notification.
A statement issued by NEPRA said that the new tariffs would be applicable after the final notification.
The tariff hike has been attributed to the depreciation of the rupee and rising oil prices.
NEPRA has fixed the national average tariff for the financial year 2022-23 at Rs24.82 per unit.
The statement also said that the tariffs are determined based on the distribution and transmission losses and keeping in consideration the terms of revenue of different distribution companies.
The tariff increase comes following yesterday’s statement by the International Monetary Fund wherein it said that Pakistan needed to take wide-ranging steps to repair macroeconomic stability.
Last week, Minister of State for Petroleum Musadiq Malik had given a warning that an increase in the tariff of electricity would come after fuel price adjustment through withdrawal of subsidies.