The National Electricity Regulatory Authority (NEPRA) has approved a significant increase in the basic electricity tariff by $5.72 per unit in the financial year 2024-25.
The decision has been sent to the federal government for final approval.
Beginning July 1, 2024, the average electricity rate will increase from $29.78 to $35.50. The Federal Cabinet will take the final decision on the implementation of this rate hike.
Instead, Prime Minister Shehbaz Sharif reduced the price of electricity for production and export by $10.69 per unit. The new electricity price for the industry will be $34.99 per unit. This move is expected to give a significant boost to industrial development leading to faster employment opportunities and economic growth. The government estimates that the move will cost the industry more than $200 billion.
NEPRA’s approval reflects ongoing reforms in the power sector, efforts to support economic growth through industry incentives and necessary price hikes.
NEPRA approves whopping Rs 5.72 increase in power tariff
