The federal government has prepared a summary regarding the increase in electricity tariff, as per the sources on Monday.
According to the sources, the prepared summary would be approved during a meeting of the Economic Coordination Committee (ECC) which is scheduled to be led by Asad Umar—the finance minister today.
The sources further informed that propositions have been made for an increase in the electricity prices for the years 2016-17 and 2017-18 as per which the price per unit is anticipated to increase to Rs 3.75. They also said that with the suggested increase in power tariff, an extra four hundred billion rupees per month is expected to be gathered from the consumers.
The previous month, the National Electric Power Regulatory Authority (NEPRA) approved to increase the electricity prices by Rs 1.16 per unit. But, the ECC had denied regarding the announcement of an increase in the electricity prices.
The ECC has permitted an increase in the gas prices for domestic consumers in the range of ten per cent of the lowest category consumers to one hundred and forty-three per cent for the highest category of domestic consumers.
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The ECC hiked the gas prices for the domestic sector from 3 to 7 with the objective of passing on the minimum load on the less-privileged of the country.
In the meantime, the anticipated rise in power tariff comes following Pakistan officially approached International Monetary Fund (IMF) for a bailout package, which is as per reports to be an amount between ten billion dollars to twelve billion dollars.
The IMF has asked for complete transparency of Pakistan’s debts to determine the debt sustainability of nations seeking the IMF loans.
Previously, an IMF delegation that was on a week-long visit to Pakistan asked the authorities for increasing the gas and electricity tariff and asked the government for increasing the tax base.