The National Electric Power Regulatory Authority (NEPRA) on Thursday approved an Rs0.81 per unit increase in electricity prices in Pakistan.
The hike in power tariff will put an additional financial burden of Rs5.2 billion on consumers. The higher electricity prices in Pakistan do not apply to K-Electric consumers.
Inflation rose to 9.41% year-on-year, up from 8.21% in February, Bureau of Statistics data showed on Monday, lifted by sharp rises in food, fuel and transport costs that have squeezed household budgets.
Moreover, On Friday, the central bank lifted its key policy rate by 50 basis points to 10.75%, citing continuing inflationary pressures as well as high fiscal and current account deficits.
Not only this but also, Consumer price inflation has jumped sharply over the past year, climbing from under 4% at the start of 2018.
Electricity prices in Pakistan, in particular, have risen sharply, and also hit by a series of a devaluations of the rupee.