Govt to put additional burden of Rs967 billion on electricity consumers

ISLAMABAD, (NNI): Government controlled electricity supply companies have prepared a plan to put another additional burden of 967 billion rupees on consumers in next fiscal year (FY 2024-25).

The National Electric Power Regulatory Authority (NEPRA) has received requests from six electricity distribution companies in the country to put an additional burden of 967 billion rupees on consumers.

As per the details, Gujranwala Electric Power Company Limited (GEPCO) has filed a request to recover Rs376 billion,

Multan Electric Power Company Limited (GEPCO) Rs160 billion, Quetta Electric Supply Company (QESCO) Rs236 billion, Tribal Electric Supply Company (TESCO) Rs92 billion, Peshawar Electric Supply Company (PESCO) Rs 67 billion and the Sukkur Electric Supply Company (SEPCO) Rs35.7 billion.

The channel reported that NEPRA will hold hearing on the applications of electricity distribution companies on April 2.

Govt already ensures IMF to increase power tariff from July 2024

It is worthy to mention that power tariff will more be increased from 1st July 2024 as the federal government has already assured IMF Mission team visited Pakistan for talks in order to curb rising circular debt some days ago.

The federal government guaranteed international lender that State Bank of Pakistan will keep strict monetary policy and market exchange rate.

During various rounds of negotiations with officials of different departments which were held during March 15 and 16, the IMF team was assured by the government regarding hike in power prices on monthly, quarterly basis in fuel adjustments to control circular debt.