[vc_row][vc_column][vc_column_text dp_text_size=”size-4″]In a significant development, the departing government of Pakistan has announced a substantial increase in the base rate of electricity, signaling what is being described as another ‘electric shock’ for a population already grappling with the impact of inflation. The National Electric Power Regulatory Authority (NEPRA) made this decision late at night, raising the price of electricity by Rs7.05 as part of fuel adjustment charges for the month of January.
Amidst the ongoing economic crisis in Pakistan, where citizens are already feeling the strain of record-high prices, this move adds an additional layer of financial burden on the masses. The increased electricity rates are scheduled to take effect in March 2024, coinciding with the month of Ramadan. It is important to note that the escalated prices will not be applicable to lifeline consumers and those served by K-electric.
Read more: Pakistan Expects Major Inflation Reduction From January
The decision by NEPRA to raise electricity prices is anticipated to impose an extra financial load of Rs66 billion on power consumers. This comes at a time when the people of Pakistan are already contending with the economic challenges posed by inflation and other related issues.
It is noteworthy that electricity rates in Pakistan are intricately linked to fuel prices and various other factors. The fluctuation in these rates not only impacts the cost of living for individuals but also plays a pivotal role in influencing inflation by elevating production costs for industries. As a result, this decision is expected to have a cascading effect on various sectors of the economy, posing challenges for both consumers and businesses alike.[/vc_column_text][/vc_column][/vc_row]
