LAHORE – Hapless consumers are all set to bear the brunt of hefty increase in electricity and gas tariffs during the current month.
Pakistan is all set to revise the electricity and gas tariffs before International Monetary Fund’s (IMF) Executive Board meeting scheduled to be held on July 12 for securing a special bailout package.
As per the insiders, an increase of Rs3.5 to Rs4 per unit in electricity tariff is expected for the fiscal year 2023-24.
Moreover, gas tariff will be increased by 45-50 per cent to pave the way for actualization of $3 billion package agreed with the global lending agency at the recent staff level meeting.
The revised electricity and gas tariffs will be effective from July 1.
Last month, Oil and Gas Regulatory Authority has announced 50 per cent increase for the consumers of Sui Northern Gas Pipeline Limited. If it happened, gas price will reach up to Rs1,238.68 per MMBTU.
OGRA has also announced increase in the gas price for the consumers of Sui Southern Gas Company Limited by 45 per cent.
However, the federal government has not yet notified the revised gas tariffs.
As per the officials, new electricity and gas tariffs will be notified soon to fulfill the IMF condition of bringing necessary adjustments for reducing circular debt of energy sector and making it viable and sustainable.
Circular debt of energy sector stands at over Rs4,300 billion- Rs1,700 billion in the oil and gas and Rs2,600 billion in the power sector.
