Earlier, electricity tariff for agriculture sector and textile industry were also increased. PHOTO: FILE
The increase in electricity tariff is one of the requirements of the loan deal the government struck with the IMF.
The electricity tariff for the agriculture sector was also earlier increased and the subsidy for the sector was cut. This was done as a requirement for the initial reimbursement of the loan given by the IMF.
There was also a sudden increase in electricity tariff on the textile industry.
The increase in electricity tariff is expected to affect economic growth as power consumption makes up a large part of the basket of items used to calculate inflation.
The central bank, by raising the interest rate has already taken a step which is expected to have a higher inflationary pressure in the coming months.
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The real shame is that it took the IMF for the govt to finally recognize that subsidizing energy makes no sense when you have an energy crisis. For that matter when your out of money you can't afford to subsidize anything. No such thing as a free lunch.
I do not believe electricity price increase, petrol and diesel increase, depreciation of good Pakistan Rupee against western countries is by IMF. If this was the case, there is no political mandate to go IMF. The way out is Not IMF.
if the price increase stopped load shading then eventually it will be good for economy
@sikandarshahali:
well sindh nearly destroyed pakistan when ppp govt ruled for past many years!
Excellent ... We must contribute to the national exchequer ... I love democracy !!! My suggestion is to raise to a rounded off figure of 5 Rs. and 10 Rs. for the two consumer groups.Very good step taken by PML(N) ...
Tariffs like load shedding should also be more in areas from where there is more theft. Give incentive to people to report and go after those who are stealing.
Should provide status in each bill about the usage vs collection for the relevant area in the bill.
Happy 1st. October.
thank you punjab for this bonzana,many more to come in the upcoming days.
when we will be in power we will price of 1990..well done Nawaz Shareef
Such a steep rise means that a consumer in Pakistan shall have to pay Rs 15 to 20 per unit consumption of electricity which is extremely high as compared to India which ranges between Rs 5 to 7 per unit for domestic usage. This abrupt rise would put a great burden on a common man who is already reeling under steep rise in prices of all commodities.
Looks like we are IMFed.
Yet another economic blast by PML-N, stay tuned for more.
@Nadir: 'If IK was PM-----' You forgot to mention many other things ie If IK was PM, he would have solved all major problems like terrorism, corruption, power, unemployment etc within three months and Pakistan would have become a progressive state by now.
I miss Musharaf....
I have a feeling that I won't ever hear people saying "Sher, Ek Wari Fer"
This is cruelty. Lower middle class is being dumped here.
Its all because of Imran Khan and PTI.
that's it ET!... had it been KPK/ IK government, you would have written even op ed on this. But now not even a signle line on the govt role for unleashing this wrath on the masses.
Zardari sb people are remembering your gloden period.
Has Financial Matters including ministry been leased to IMF?
God Bless our country and get rid of these Corrupt Politicians.
Let's hope the impending cooler weather brings some temporary relief to our patched pockets.
The increase amounts to an additional 2,049Rs. for those consuming 700 units or more.
Thank you Punjab! If IK was PM electricity prices would be FALLING by now!
Once in power, we will break the begging bowl and wouldn't put the masses under the burden of loans - PML-N before the election