The decision to reduce the electricity price by 84 paise per unit for one month will be taken on June 2, 2021.
Islamabad: The good news for the people is that electricity will become cheaper. According to the details, electricity is likely to be cheaper by 84 paise per unit for a month, for which the Central Power Purchasing Company has applied to NEPRA.
It is informed that the request for reduction of electricity has been made in the context of fuel adjustment. In this regard, NEPRA will take a decision on June 2 regarding the reduction of electricity.
Another good news for Pakistanis is that Federal Minister for Energy Hamad Azhar termed the news of an increase in electricity price as baseless. He old that the federal cabinet did not approve the increase in electricity price on the recommendation of NEPRA.
In his explanatory statement, he said that the quarterly tariff adjustment in electricity bills is coming to an end in October, adding that reports of a further increase in electricity prices are baseless. The new tariff adjustment will increase by only eight 8 paise instead of one rupee 72 paise.
Hamad Azhar said that despite the recommendation of NEPRA, the federal cabinet did not approve the immediate increase in the price of electricity. With an increase of only eight paise in October, he said, one QTA of electricity is being released in October and will be replaced by an alternative QTA, which will increase the price of electricity by 8 paise per unit and not Rs.1.72 that needs to be clarified.
It was clarified here that the media was reporting that the Federal Government has decided to increase the price of electricity by Rs 1.72 per unit, under which the Federal Government has also approved to increase the price of electricity. The federal cabinet has approved the summary through circulation. Approved to increase the price of electricity by 3 different quarterly adjustments.
Under these adjustments, it was approved to increase the price of electricity by 82 paise per unit in the fourth quarter of the financial year 2020. For the first and second quarter adjustment, it was approved to increase the price of electricity by 90 paise per unit. The increase in electricity prices will be implemented from October 2021.