The National Electric Power Regulatory Authority (NEPRA) has slashed the power tariff by 44 paisas per unit on account of fuel price adjustment for April.
According to the regulatory authority, the reduction in prices was made over fuel adjustment. The Central Power Purchasing Agency, however, had requested NEPRA to reduce the price of electricity by 84 paisas per unit.
Earlier, the Karachi-Electric had requested NEPRA to increase the power tariff by Rs2.5 per unit. The K-Electric had cited fuel adjustment from January to April for this hike.
TARIN AGAINST HIKE:
Last month, Federal Finance Minister Shaukat Tarin termed the International Monetary Fund’s (IMF) demand for an increase in electricity tariff “unjustified” while hinting at “renegotiations” with the global lender on loan conditions.
Speaking in a meeting of the National Assembly Standing Committee on Finance, Tarin had presented a grim view of the national economy. “The economy is stagnant while the country did not have short-, medium- and long-term economic policies.”
“The wheel of the economy is not turning and the IMF is demanding increase in electricity tariff. This is unjustified,” he had said, adding that he had conveyed to the fund that the circular debt would be reduced but raising power tariff is incomprehensible. “Raising electricity prices will increase corruption.”