Recent news has alerted Karachi residents to a possible increase in electricity prices. The government has officially requested an increase in electricity rates for Karachi, proposing a raise to Rs. 10.32 per unit.
This proposed increase is linked to three separate adjustments planned for the fiscal year 2023-22. The request is set to be discussed in a NEPRA (National Electric Power Regulatory Authority) hearing on September 11, 2023.
On another note, the International Monetary Fund (IMF) has rejected the government’s plan to reduce electricity bills for consumers, which aimed to provide relief of over 6 billion rupees. However, the IMF has expressed concerns, suggesting that this plan could result in a shortfall of over 15 billion rupees and has called for a more comprehensive approach to address this fiscal challenge.
This situation underscores the difficulties faced by both the government and consumers in finding a balance between electricity costs and fiscal responsibilities. Karachi residents will be closely monitoring the outcome of the NEPRA hearing and any subsequent decisions regarding electricity pricing.
Also read: Gold rates in Pakistan drops in line with international market trend
