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Sigh of relief: NEPRA notifies Rs2.32 per unit cut in power tariff

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2 years ago

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  • Decision comes a day after govt dropped “petrol bomb” on people.
  • NEPRA also okays reduction of Rs10.8 per unit for KE consumers.
  • Domestic consumers who use more than 300 units will get benefit.

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Thursday notified a reduction of Rs2.32 per unit for Ex-WAPDA distribution companies (XWDISCOs) consumers on account of fuel charges adjustment (FCA) for December 2022.

The development comes a day after the federal government dropped a “petrol bomb” on the masses by increasing the price to Rs272 per litre after a hike of Rs22.20. Meanwhile, natural gas tariff was increased sharply by up to 112% for consumers.

The negative power tariff adjustment will give some breathing space to the inflation-weary people reeling from the impact of sky-high petrol and gas prices.

According to a notification issued in this regard, the NEPRA directed all XWDiscos to show the adjustment separately in the consumer’s bills for February.

This shall apply to all consumer categories except:

  • Lifelines consumers
  • Domestic consumers who consume up to 300 units
  • Agriculture consumers
  • Electric vehicle charging stations

It was also clarified that the negative adjustment on account of monthly FCA applies to domestic consumers having Time of Use (ToU) metres irrespective of their consumption level.

“The said adjustment shall be shown separately in the consumers’ bills on the basis of units billed to the consumers in the month of December 2022,” it read.

The FCA is based on changes in the global prices of fuel and is passed on to consumers under the prescribed rules and regulations of NEPRA and the government of Pakistan.

The recommendation proposed by the power distribution companies is approved by NEPRA after a thorough review of the data provided for a month during which the fuel charges were recovered from the consumers.

Earlier, the power regulator also notified a reduction of Rs10.8 per unit for the K-Electric consumers for the month of December 2022 which would also be reflected in the consumer bills of February 2023.

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Robust activity lets PSX climb above 115,000 level again.

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On Friday, the Pakistan Stock Exchange (PSX) resumed its upward trend, crossing 115,000 points once more.

The PSX had strong action in the morning session, as the KSE-100 index increased by 1,000 points to 115,138.

The notoriously volatile PSX closed Thursday at 114,037 points, up 594 points.

DOLLAR DEPRECIES

Meanwhile, in the interbank market this morning, the US dollar fell 7 paisas to Rs278.65 against the Pakistani rupee.

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SBP will announce monetary policy on January 27.

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The State Bank of Pakistan (SBP) will release its monetary policy on Monday.

The Monetary Policy Committee (MPC) of the SBP will convene on the first day of the following week to make decisions on monetary policy.

The Monetary Policy decision will be announced by Governor SBP Jameel Ahmad at a news conference on the same day after the MPC meeting, according to an official release.

In December, the central bank reduced policy rates by 200 basis points (bps) to 13 percent.

“In November 2024, headline inflation fell to 4.9 percent year on year, meeting the MPC’s estimates. This decrease was mostly caused by the ongoing decline in food inflation and the phasing out of the impact of the gas tariff increase in November 2023,” SBP stated in an official release.

“However, the Committee noted that core inflation, at 9.7 percent, is proving to be sticky, while consumer and business inflation expectations remain volatile.” To that end, the Committee restated its previous assessment that inflation may remain volatile in the short term before stabilizing within the target range.

“At the same time, growth prospects have slightly improved, as evidenced by a recent increase in high-frequency indicators of economic activity.” Overall, the Committee concluded that its approach of gradual policy rate decreases is keeping inflationary and external account pressures under control while promoting long-term economic growth.

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Finance Minister Meets With World Leaders at World Economic Forum in Davos

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During his attendance at the World Economic Forum in Davos, Switzerland, Finance Minister Muhammad Aurangzeb has met with officials of organisations and leaders of many nations.
Bangladesh’s Chief Advisor, Muhammad Younas, met with Mohammad Aurangzeb.
On the fringes of the World Economic Forum’s Annual Meeting 2025 Opening Banquet, there was an informal meeting.
Additionally, the Finance Minister met with Anwar Ibrahim, the Prime Minister of Malaysia.
Both leaders discussed economic cooperation and bilateral ties.
Muhammad Aurangzeb also had a meeting with Dp World’s Rizwan Soomro and Yuvraj Narayan.
They talked about how to strengthen Pakistan’s logistics and infrastructure systems to support trade.
“The Pakistani government is committed to advancing joint projects and values partnerships in both business-to-business and business-to-government cooperation,” the finance minister added.

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