A 7.9 rupee per unit increase in the base national power pricing has been approved by Prime Minister Shehbaz Sharif. An official document states that the price increases will happen in three stages.
Starting on July 1, 2022, the increase will be 3.5 rupees per unit in the first phase. While the third phase will begin on October 1 with a rise of Rs. 0.91 per unit, the second phase will begin on August 1 with an increase of Rs. 3.5 per unit.
The Ministry of Energy urgently presented the report addressing the price rise, and at the Federal Cabinet’s most recent meeting, the ministry requested approval.
The PM had to take action to get the approval because the Cabinet did not take the summary into consideration.
According to Ministry of Energy representatives, the National Electric Power Regulatory Authority (NEPRA) would have automatically raised the prices if the Prime Minister had not accepted the summary. The restart of the International Monetary Fund (IMF) programme additionally required the PM’s permission.
By October 2022, the base power rate will have increased from Rs. 16.91 to Rs. 24.82 as a result of the rise.