ISLAMABAD: The federal cabinet has decided to raise the energy tariff in order to carry out a significant requirement of the International Monetary Fund (IMF).
The federal cabinet has authorized an increase in the basic power tariff, according to sources who spoke with The News. The approval process was carried out through a circulating summary.
The federal government received a decision from the National Electric Power Regulatory Authority (Nepra) to raise the base power cost by an average of Rs5.72 per unit.
Government sources claim that Nepra will receive the federal cabinet’s decision about the uniform tariff.
The federal government will notify consumers of the hike in the base electricity tariff with Nepra’s approval.
The sources claim that the federal government must raise the basic electricity tariff by July 10 in order to comply with IMF requirements.
The judgment made by Nepra states that customers of electricity will bear an extra cost of almost Rs600 billion as a result of the hike in the base tariff.
According to the sources, Nepra plans to raise the basic power tariff for the 2024–25 fiscal year. The approved increase will take effect on July 1, 2024.
For the fiscal year 2024–2025, Nepra has approved raising the average basic power cost from the existing Rs. 29.78 to Rs. 35.50 per unit.
