Islamabad: The government has decided to further increase the electricity tariff by Rs 2.8 per unit.
It is understood that from February to July this year, the relevant departments have made preparations for the price increase in two phases.
The decision was made under the terms of the International Monetary Fund (IMF) to charge consumers an additional Rs 29,200 crore between February 2022 and June 2023.
Earlier, the Cabinet Energy Committee, headed by Planning and Development Minister Asad Omar, had approved the revised plan.
It needs to be mentioned here that the revolving debt of the power sector during the Pakistan Tehreek-e-Insaf (PTI) period reached the highest level in the country’s history at Rs 24,760 crore.
Revolving debt in the power sector rose by Rs 1,960 crore to a record Rs 2,476,000 crore in the first six months of the 2021-22 financial year (July-Dec) compared to the same period last year.
Revolving debt increased by an average of Rs 325 crore per month from July to December.
Revolving debt stood at Rs 1,148 billion as of August 2018, rising to Rs 2,476 billion by December 2021, sources said.