Big Bomb of ‘Bijly’
ISLAMABAD: Just a few days before the dissolution of assemblies, the federal cabinet exploded a big bomb of ‘Bijly’ and approved a massive increase in the base tariff of electricity _ up to Rs7.50 per unit.
Notably, the actual tariff would be much higher when considering surcharges, taxes, duties, and levies, in addition to monthly and quarterly adjustments
Earlier, the government had planned only a Rs 4.90 per unit increase in the national average tariff.
However, on Saturday, the coalition government decided to ‘do more’ and explode the bomb of ‘Bijly’ before completing its term, approving a record hike in the tariff in one go.
According to the Federal Secretary of Energy, Rashid Mahmood Langrial, the new tariff will be applicable from the back date (July 1).
He said that NEPRA will issue a formal notification after conducting a public hearing.
The government sought the cabinet’s approval to adjust different rates of increases for various consumer categories through cross-subsidy.
Meanwhile, NEPRA also issued a statement saying the revised national average tariff for the 2023-24 fiscal year has been increased to Rs29.78 per unit kWh. It is Rs4.96 per unit higher than the previously determined national average tariff of Rs24.82.
The NEPRA cited reasons such as the rupee’s devaluation, high inflation and interest rates, the addition of new capacities, and overall low sales growth as the basis for the increase.
However, NEPRA forget to mention the name of IMF which linked the new loan’s approval with a massive hike in the cost of electricity.
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Petro-Dealers defer the nationwide strike
Nationwide shutdown deferred
ISLAMABAD: The Pakistan Petroleum Dealers Association deferred its decision of a nationwide shutdown for two days after meeting Minister Musadik Malik.
The Association said that their representatives are holding another round of dialogues with the government after two days. Hence, the PPDA deferred its countrywide strike.
A day earlier, the Association announced a strike on July 22. However, on Friday the members of the PPDA held a meeting with Minister Musadik Malik and decided to defer the strike.
