According to sources, the cost of energy would increase by Rs3 per unit on July 1 and then by another Rs.3 per unit on August 1. Starting in September 2022, the cost of electricity will increase by Rs.2 per unit.
The basic electricity rate is currently Rs16 per unit, but if the government complies with the IMF’s demands and the power firms’ requests, it will eventually exceed Rs24 per unit. For the release of a $1 billion loan tranche, the IMF has requested that the government stop providing subsidies for food, electricity, and transportation.
In order to meet the demands of the foreign lender, fuel costs have already been increased by Rs30 per liter.
Ten electricity distribution companies have asked the National Electric Power Regulatory Authority to raise the tariff, according to sources in the Ministry of Energy, although NEPRA has the last say. After concluding its hearings on these electricity distribution businesses’ revenue needs, NEPRA is anticipated to make its verdict this week.
The Power Division will be able to make the ultimate move of raising the price of power after NEPRA’s decision, according to the sources, and the federal government will also decide on the targeted subsidy. The sources claim that as a result of rising fuel costs, a strong dollar, revolving credit, and business losses, electricity prices will rise. The price hike might not, however, occur all at once. They claim that the country’s current basic electricity rate is more than Rs.16.50 per unit.
It is important to note that the National Electric Power Regulatory Authority (NEPRA) has already set the power rate for the fiscal year 2022–2023 at Rs.24.82 per unit, following a significant increase of Rs.7.91 per unit.
Netizens took to Twitter to express their outrage. Twitter user @IrumButt77 tweeted, “And they have gone on a picnic on general public’s money”.
Or ye picnic mañany gya hy awam k paison pe. pic.twitter.com/Kf6cIgmfm0
— iرuم (@IrumButt77) June 2, 2022
Another Twitter user @LeeRoy21519810 tweeted, “That’s an increase of more than Rs11/unit in just 3 weeks.”
Thats an increase of more than Rs11/unit in just 3 WEEKS!!!
— Lee Roy (@LeeRoy21519810) June 2, 2022
Twitter user @SKB_07 sarcastically tweeted, “Previous month’s bill was 55K month’s,a nd considering this price increase per unit I think this load shedding is better to stop units right now.”
Previous month bill was 55K and considering this price increase per unit i think this loadshedding is better to stop units right now. 😄
— Sohaib (@SKB_07) June 2, 2022
Twitter user @cibean78 tweeted, “Add petrol bomb as well Rs.30 per liter from tonight.”
Add petrol bomb as well Rs 30 per litre from tonight
— Rasikh Siddiqui (@cibean78) June 2, 2022
Twitter user @magentoxmen tweeted, “Fantastic imported government.”
fantastic imported government
— magento (@magentoxmen) June 2, 2022
