PM announces power relief package following approval of International Monetary Fund
The sun sets behind an electricity pylon on December 1, 2022. — Reuters
Electricity consumers heaved a sigh of relief after Prime Minister Shehbaz Sharif on Thursday announced a significant cut in power tariffs, providing a relief of Rs7.41 per unit to domestic consumers.
Announcing the power relief package at a ceremony in Islamabad, the prime minister also revealed that the cost per unit for industrial units has also been slashed by Rs7.59.
The development comes a month after the government's request to the National Electric Power Regulatory Authority (Nepra) for a reduction of electricity prices — following the approval of the International Monetary Fund (IMF), which gave its go-ahead for a Re1 per kilowatt cut in utility rates.
Average price of electricity reduced by Rs7.41 per unit.
Per unit power tariff slashed from Rs45.05 to Rs37.64.
Power tariff for domestic consumers reduced by Rs7.15.
Commercial consumers provided a relief of Rs8.58 per unit.
Per unit rate for commercial consumers slashed from Rs71.06 to Rs62.47.
Electricity rate for general services reduced by Rs7.18.
Per unit rate for general services reduced from Rs56.66 to Rs49.48.
Power tariff for industrial consumers reduced by Rs7.69.
Per unit rate for industrial consumers reduced from Rs48.19 to Rs40.51.
Power tariff for bulk supply slashed by Rs7.18 per unit.
Per unit price for bulk supply reduced from Rs55.05 to Rs47.87.
Power tariff for agricultural sector reduced by Rs7.18 per unit.
Per unit rate for agricultural sector slashed from Rs41.76 to Rs34.58.