Govt decides to increase power tariff by Rs2.8 per unit
Business
Authorities have geared up preparations to hike power prices in two phases from February to July.
ISLAMABAD (Dunya News) - The government has decided to further increase electricity tariff by Rs2.8 per unit.
According to details, the authorities have geared up preparations to hike the prices in two phases from February to July this year.
The decision was taken as per conditions of the International Monetary Fund (IMF) for the collection of an additional Rs292 billion from consumers between February 2022 and June 2023.
Earlier, Cabinet Committee on Energy headed by Planning and Development Minister Asad Umar, had approved the revised plan.
It is to be mentioned here that the power sector circular debt during Pakistan Tehreek-e-Insaf (PTI) reached the highest level of Rs 2,476 billion in the history of the country.
The power sector circular debt increased by Rs 196 billion to a record high of Rs 2,476 billion during the first six months (July-December) of the Fiscal Year 2021-22 as compared to the same period of the previous year.
The circular debt increased at a monthly average Rs 32.50 billion from July to December.
Sources said that the volume of circular debt till August 2018 was Rs 1,148 billion which increased to Rs 2,476 billion by December 2021.
