The National Electric Power Regulatory Authority (NEPRA) has decided to raise the basic electricity tariff by Rs. 5.72 per unit, effective from July 1, 2024. This hike will increase the tariff from Rs. 29.78 to Rs. 35.50 per unit. The federal government will determine whether this new rate will be applied immediately or phased in over time.
In the current financial year, the electricity tariff has already seen an increase of Rs. 7.50 per unit. This follows a similar rise of Rs. 7.91 per unit in the previous fiscal year. The ongoing adjustments in electricity pricing are part of the broader effort to address the financial sustainability of the power sector.
Reduction in Fuel Prices Announced
On a positive note, the government has announced a reduction in petrol and high-speed diesel (HSD) prices for the next two weeks. The price of petrol has been cut by Rs. 10.2 per liter, bringing it down to Rs. 258.16 per liter. Similarly, the price of HSD has been reduced by Rs. 2.33 per liter, now priced at Rs. 267.89 per liter.
This reduction comes as a relief for consumers ahead of the Eid-ul-Azha holiday. The Prime Minister’s Office described this decrease in fuel prices as a gesture of goodwill from the Prime Minister to ease the financial burden on citizens during the festive period.
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