The federal cabinet has approved a significant increase in the NEPRA base tariff by Rs5.72 per unit, starting from July 2024. This decision aligns with the requirements set by the International Monetary Fund (IMF). Reports indicate that this decision was made through a circulation summary among the cabinet members and will soon be sent to NEPRA for further action to establish a uniform tariff.
If NEPRA approves this increase, the federal government will issue a notification to enforce the new tariff rates. This adjustment is part of the conditions agreed upon with the IMF for a bailout package, which mandates the increase by July 10.
This tariff hike is expected to add an additional Rs600 billion burden on electricity consumers across the country. For the financial year 2024-25, NEPRA has raised the average basic electricity tariff from Rs29.78 to Rs35.50 per unit.
Consumers can anticipate higher electricity bills starting in July 2024. If NEPRA confirms the new uniform tariff, electricity bills will reflect the increased rate of Rs35.50 per unit. This means that customers will have to pay an additional Rs5.72 per unit on their electricity bills beginning in July 2024.
. Reports indicate that this decision was made through a circulation summary among the cabinet members and will soon be sent to NEPRA for further action to establish a uniform tariff.){kind=link}