After Petrol, price of electricity likely to increase too from July
A massive increase in the power tariff of up to Rs7-7.50 per unit is expected to be implemented on July 1, 2022 to restore the IMF programme, according to top government sources.
According to sources of Ministry of Energy, the increase in electricity tariff will be based on the basic tariff and the decision to increase will be taken after the decisions of NEPRA on the applications of 10 electricity distribution companies. NEPRA has completed hearings on the revenue requirements of these electricity distribution companies, after which a decision is expected from NEPRA this week.
After the decision, the power division will be able to take a final decision to increase the price of electricity and after the decision of NEPRA, the federal government will also decide on the targeted subsidy.
Due to fuel prices, high dollar, revolving credit and losses of companies, electricity will become more expensive.
At present the basic tariff of electricity in the country is more than Rs16.5 per unit. The average basic tariff may exceed to Rs24 after hike in electricity price.