Tuesday, December 07, 2021
The National Electric Power Regulatory Authority (NEPRA) notified on Tuesday another hike in electricity price for Karachi, increasing the rate by Rs3.75 per unit.
An official notification issued in this regard stated that the latest adjustment in the approved tariff for Karachi has been made on account of the fuel charges' adjustment for September, which would be included in the electricity bills for December.
According to the notification, the new rate will apply to all consumers, except for lifeline consumers.
NEPRA approved the new increment after a hearing on an application, seeking a hike in the electricity rates for Karachi on account of fuel adjustment, in November.
The last time NEPRA approved a hike in the electricity prices was at the beginning of November, when it announced an increase of Rs1.68 per unit of electricity.
The notification issued for the hike had stated that the increased rates will not be applicable to those who consumed 200 or fewer units of electricity.
According to the statement, the recent increase has been made in the basic tariff under which the price per unit of electricity has been increased by Rs1.68 for domestic consumers, while for commercial and other categories, the price per unit of electricity will be Rs1.39.
The new rates will come into effect across the country from November 1, which will earn the country revenue of Rs135 billion per annum, read the statement.
Later in the month, Federal Minister for Energy Hammad Azhar, during a press conference flanked by Finance Minister Shaukat Tarin, had mentioned that the basic electricity prices will be increased in the coming months.
"These are difficult times and people around the world are facing problems due to COVID-19," he said, adding that inflation around the world is at its 30-year high level.
Endorsing his views, Tarin stated that the international financial institutions appreciated Pakistan's economic growth during the pandemic.
The adviser was of the view that the monetary policy should be free.
"Petroleum development levy should be increased by Rs4 per litre every month," he said, adding that the government aims to take the petroleum development levy up to Rs30.
He further mentioned that the IMF acknowledged the tremendous work done in the energy sector.