Electricity prices likely to drop by Rs1.04 per unit

The Central Power Purchasing Agency (CPPA) has proposed a reduction in electricity tariffs by Rs1.04 per unit under the December fuel price adjustment. 

The reduction has been sought citing reduced reliance on power plants using imported fuel. The application has been submitted to the National Electric Power Regulatory Authority (NEPRA), which will hear the case on January 30.

If approved, the reduction will provide significant relief to consumers of distribution companies (DISCOs) worth around Rs3.90 billion. This adjustment is expected to reflect in consumers’ electricity bills for February.

The CPPA’s move highlights the impact of utilizing domestic energy resources to reduce costs. NEPRA will make the final decision after thoroughly reviewing the application and supporting data during the scheduled hearing. 

Also Read: 'Power rates will go down further'

Moreover, Federal Minister Rana Tanveer Hussain also stated that the power rates will go down further. Expressing his thoughts at the Lahore Chamber of Commerce and Industry, Hussain stated, "The initiatives, which generally take many years to complete, have been taken by Shehbaz Sharif in years."

Hussain fired a broadside at the Pakistan Tehreek-e-Insaf-led government, asserting the party had harmed the country's economy.

He vowed that the government was taking all-out measures to steer the country towards prosperity.