IMF condition: Federal Government to increase electricity prices by Rs 7 per unit

IMF condition: Federal Government to increase electricity prices by Rs 7 per unit

*ISLAMABAD: Federal Govt. has filed a petition with the National ElectricPower Regulatory Authority (NEPRA) seeking Rs 7.91 per unit hike in basicpower tariff. *

The electric power regulator will hear the plea for tariff hike tomorrow,as the government has completed its preparations for implementation of theInternational Monetary Fund’s (IMF) condition for an economic bailoutpackagelink.

The NEPRA, after the hearing, will forward its decision to the governmentfor notification on power tariffs.

It has been recommended to enhance the basic power tariff of all DISCOsincluding the K-electric, the power utility, which supply electricity toKarachi.

The federal government have a plan to increase the power tariff in phases.In the first phase, the government has proposed 3.5 rupees per unit hike inelectricity tariff from July and another 3.5 rupees per unit increase fromAugust. Moreover, another 91 paisa per unit hike in the tariff has beenrecommended from October.

It is to be mentioned here that the NEPRA had earlier sent its decisionwith regard to hike in basic power tariff, the government has now filedplea with the regulator for unanimous hike in power tariff.

The NEPRA on July 07, had approved in power tariff by Rs7.90 per unit. Theincrease was made under fuel adjustment charges (FAC) for the month ofJune. The power regulatory authority took the decision after conducting ahearing on the plea of Central Power Purchasing Agency (CCPA)