The power tariff for the industrial sector has been fixed at RsRs34.99 per unit.

The National Electric Power Regulatory Authority (Nepra) proposed the decrease in power tariff and Prime Minister Shehbaz Sharif approved it.

The cut in power tariff is likely to accelerate industrial growth, create job opportunities, and stimulate economic activity.

On the other hand, Nepra has approved an increase of Rs5.72 per unit in the basic electricity tariff for the financial year 2024-25.

According to a statement by Nepra, the increase will be effective from July 1, 2024.

After the Nepra decision, the average basic electricity tariff will increase from Rs29.78 to Rs35.5 per unit. Nepra has forwarded this decision to the federal government for further action.

According to sources, the federal cabinet will take the final decision to increase the power tariff. The Cabinet will decide whether this increase in electricity price will be done all at once or in phases.

Also read: Nepra increases power tariff by Rs3.33 per unit

After approval by Nepra, electricity consumers will have to pay higher rates from July 2024 onwards. With this increase, people may face budget difficulties at their family level.

The government will need to take various measures to mitigate the impact of the increase. It remains to be seen how the federal cabinet implements the increase and whether any relief package is provided or not.

Nepra’s approval of Rs5.72 per unit hike in basic electricity tariff, which will come into force during the financial year 2024-25, is an anti-public decision. Now it is to be seen what the federal cabinet decides on this and how the people can be protected from the effects of this increase.