Government Approves Further Hike in Electricity Tariff
Islamabad: The government of Pakistan on Wednesday approved a further price increase in electricity tariff by 83 paisa per unit for consumers consuming more than 300 units a month. This move will put an additional burden of PKR 80 billion on the people making their financial position weaker.
This price hike is the result of meeting a condition set by the International Monetary Fund (IMF) and it should be noted that this is the third time in the past 9 months the price has been increased. This time the government is also giving subsidies to consumers who consume more than 300 units monthly. The National Electric Power Regulatory Authority (NEPRA) had suggested a price increase of 53 paisa per unit but the government decided against it and increased the prices by 83 paisa.
The price increase in electricity tariffs will also further increase the inflation across industries. What results it will have on Pakistan real estate, only time will tell but things are not looking so good.