NEPRA reduces electricity prices in Pakistan
The National Power Regulatory Authority (Nepra) has decreased the electricity price by 44 paisas per unit.
Nepra has released a notification for lowering the price of electricity on Monday. The reduction was made in the head of monthly fuel price adjustment for the month of April. The consumers would get a relief of Rs4.4 billion after this cut.
The Central Power Purchasing Agency (CPPA) has requested 84 paisas per unit reduction. Whereas, the Nepra case officer suggested 87 paisas per unit relief for consumers.
Nepra released 43 paisas per unit to power companies under the head of outstanding dues.
Had Nepra agreed to CPPA’s proposal, then the consumers would have got Rs8.5 billion relief.
In another development, the Nepra on Monday heard a government petition seeking a delay in the increase of electricity prices by Rs3.23 per unit.
The government has requested the Nepra to delay extra recoveries till October as the government did not want to put an extra burden on consumers whose financial condition was already hit hard by the coronavirus pandemic.
Chairman Nepra was of the opinion that according to the IMF once a decision was taken it should not be delayed.
Tauseef Farooqui questioned was it not the case that the delay in recoveries would not bring an increase in the circular debt.
He said the Nepra authority had decided the case and the government had duly notified it.
Additional Secretary Power Wasim Mukhtar said Nepra was independent in its decision to delay the hike in prices.
The Nepra has completed the hearing on the government petition.
The authority said the decision on the petition will be released later.