Power Division officials say that the reduction in electricity prices announced by the Prime Minister is conditional on the economic situation.
According to private TV Sama News, NEPRA has completed the hearing on the government’s request to reduce electricity by Rs 1.71 per unit. Power Division officials told the authority that the reduction in electricity prices announced by the Prime Minister is conditional on the economic situation of the country. This relief will continue to be provided as long as the economic situation remains good.
According to officials, annual rebasing is not possible yet, that is why relief is being provided under quarterly adjustment. Electricity consumers will get relief in bills for 3 months.
Power Division officials said that maintaining the prices of petroleum products for 3 months will save Rs 58 billion, and relief for petroleum products will be provided by eliminating the tariff difference.
Power Division officials told the authority that electricity was cheaper in the quarterly adjustment in SEPRA the previous day, which includes savings of Rs 12 billion from the contracts of 5 IPS, a request for tariff reduction has been received from 7 IPS, requests from other IPS including the government will come to you soon.
The officials further said that talks with banks to eliminate circular debt will be finalized soon, relief for IPS’ savings will be available in the quarterly adjustment itself, the government is giving a subsidy of Rs 266 billion to reduce the tariff difference. Now by adding more subsidies, it will reach Rs 324 billion.