Electricity tariffs will soar even higher after Eidul Fitr when the government bumps up the rates for residential and commercial consumers, Express News reported Tuesday.
The government has made preparations to raise Rs3 per unit for residential consumers, while Rs5 per unit for commercial and industrial consumers. Consumers using 300 units or less will be given subsidies.
The application for the price hike was sent to the National Electric Power Regulatory Authority (NEPRA) and notification will be issued after the hearing.
The government said that they recently paid back the circular debt and if the electricity prices are not increased then the elimination of loadshedding will not be possible.
This will help the government generate over Rs650 billion revenue.