The National Electric Power Regulatory Authority (NEPRA) has approved a significant increase in the basic electricity tariff, raising it by Rs 5.72 per unit for the fiscal year 2024-25. This proposal has been sent to the federal government for final approval.
Starting from July 1, 2024, the average basic electricity tariff will increase from Rs 29.78 to Rs 35.50 per unit. The final decision on the implementation of this tariff hike will be made by the federal cabinet.
In contrast, Prime Minister Shehbaz Sharif has announced a reduction in electricity prices for industries and exports by Rs 10.69 per unit. The new rate for this sector will be Rs 34.99 per unit. This move aims to boost industrial development, leading to faster employment opportunities and economic growth. The government estimates this reduction will relieve industries of a burden exceeding Rs 200 billion.
NEPRA’s approval highlights the ongoing adjustments in the energy sector, balancing necessary price increases with efforts to support economic growth through industrial incentives.
