NEPRA approves a significant Rs 5.72 increase in power tariff

NEPRA has recently approved a substantial increase in the basic electricity tariff, raising it by Rs 5.72 per unit for the fiscal year 2024-25. This decision, which awaits final approval from the federal government, will see the average basic electricity tariff rise from Rs 29.78 to Rs 35.50 per unit starting July 1, 2024.

Simultaneously, Prime Minister Shehbaz Sharif has announced a reduction in electricity prices for industries and exports by Rs 10.69 per unit. The new tariff for this sector will be Rs 34.99 per unit. This strategic move is anticipated to foster industrial growth, accelerate job creation, and stimulate economic expansion. The government estimates that this adjustment will alleviate a financial burden exceeding Rs 200 billion from industrial enterprises.

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These measures underscore ongoing efforts in Pakistan’s energy sector to strike a balance between necessary tariff adjustments and initiatives aimed at bolstering economic development through industrial incentives.