Islamabad:
The federal government has decided to reduce electricity prices, with a proposed RS2 cut per unit for the second quarter of fiscal year 2024-25.
Energy distribution companies have already submitted their requests for adjustment to the National Electric Power Regulatory Authority (NEPRA) for approval.
If approved, the revised rates will enter into force as of March 2025, providing consumers with a relief greater than RS52 billion.
Nepra is scheduled to hold a public hearing on the matter on February 12. Price reduction will be reflected in electricity bills for March, April and May.
The quarterly adjustment will also apply to K-Electrical consumers, although Lifeline consumers will not be eligible for relief.
Last week, the CEO of the State Central Energy Purchase Agency (CPPA), Rehan Akhtar, revealed that electricity consumers of all state distribution companies (disc) would only see a reduction of 28 country per unit of unity per unit of Fuel costs for February, despite a RS1. 04 per unit lower cost based in December 2024 consumption.
He explained that record consumers had already paid a negative fuel load (FCA) adjustment of 76 countries per unit in January for November consumption and had proposed RS1.04 per unit for February depending on the use of December. As a result, the net reduction would be only 28 countries per unit.
Meanwhile, the Pakistani government could not convince the International Monetary Fund (IMF) to approve a reduction in sales tax on electricity bills.
The sources revealed that the IMF rejected a request from the Ministry of Energy of Pakistan, which had sought fiscal relief to relieve financial burden for consumers.
