ISLAMABAD – Pakistan increased electricity electricity prices in the ongoing 2023 year following the demands of International Monetary Fund, the sources privy to the development said.
The move caused extra burden of more than Rs200 billion on the consumers.
The power tariff was increased ten times during the ongoing year on the basis of fuel adjustments.
According to the sources, the government authorities increased the electricity tariff by Rs10.73 per unit in the ongoing year. They also discontinued packages worth Rs65 billion for other sectors including Kisan and Exports in a bid to control the losses over demand of the global lender.
The power consumers now have to pay a lasting surcharge of Rs3.23 per unit, encompassing monthly and quarterly adjustments alongside supplementary charges. The above collective burden surpassed Rs1,150 billion for consumers in the year 2023.
Besides it, Pakistan, in compliance with the International Monetary Fund’s stipulations, implemented a substantial 312% increase in gas tariffs during 2023 to address the circular debt issue within the energy sector.
The surge in gas tariffs unfolded in two stages, with an initial 112% increase taking effect on January 1, 2023, followed by an additional 200% hike in November.
The gas tariff went up by Rs400 per month from the previous Rs10.
