Islamabad: In a recent announcement that has sent shockwaves across Pakistan, the National Electric Power Regulatory Authority (NEPRA) revealed a significant increase in the price of electricity. Effective from October 2023 to March 2024, the electricity tariff will rise by Rs3.28 per unit due to fuel charges adjustment.
This move will place an additional financial burden of a staggering Rs159 billion on electricity consumers across the nation. The revised rates will apply uniformly to all customer categories, marking a significant change in the cost of electricity consumption.
This sudden increase in electricity prices comes at a time when consumers are already grappling with economic challenges. It is expected to have wide-ranging implications for households, businesses, and industries, leading to increased operating costs and potentially impacting the cost of living.
Inflation Hits Record High: Rising Economic Concerns
In addition to the electricity price hike, Pakistan’s inflation rate has surged to unprecedented levels, reaching 31.4 percent year-on-year in September. This startling increase represents a significant jump from the 27.4 percent rate recorded in August, according to data released by the Pakistan Bureau of Statistics (PBS).
Furthermore, on a monthly basis, inflation rose by 2 percent in September, compared to a 1.7 percent increase recorded in the preceding month of August. This escalation in inflationary pressures is causing mounting concerns for the country’s economic stability and the well-being of its citizens.
