World News | Regulatory Body Increases Electricity Tariff in Karachi After IMF's Observation

Karachi [Pakistan], December 7 (ANI): Electricity tariff in Karachi increased by Rs 3.75 per unit following National Electric Power Regulatory Authority (NEPRA)'s order, which followed IMF's observation.

According to a notification, electricity prices have been increased on account of fuel price adjustment for the month of September and the charges will be adjusted in the bill for the month of December, according to Samaa TV.

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Earlier, in October, the International Monetary Fund (IMF) asked Pakistan to increase electricity tariffs by Rs 1.4 per unit to curb the surge in circular debt.

Pakistan's regulatory body, by following IMF's observation, has increased the tariff starting with Karachi.

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Karachi will shoulder a burden of Rs 6.63 billion and K-Electric requested Nepra to increase the per-unit price of electricity by Rs 3.45 for the month of September.

Pakistan's Federal Minister for Energy Hammad Azhar revealed last month that the government had asked NEPRA to increase the power tariff to stem Pakistan's soaring circular debt.

"An increase of Rs 1.39 a unit will be applicable to power tariff from November 1," he said.

Meanwhile, the tariff was increased after the Pakistan government withdrew a Rs 72 billion subsidy, which was provided to multiple categories of power consumers, according to Samaa TV.

Further, IMF has asked Pakistan to take more steps to increase income tax, sales tax, and regulatory duties collection (ANI)

(The above story is verified and authored by ANI staff, ANI is South Asia's leading multimedia news agency with over 100 bureaus in India, South Asia and across the globe. ANI brings the latest news on Politics and Current Affairs in India & around the World, Sports, Health, Fitness, Entertainment, & News. The views appearing in the above post do not reflect the opinions of LatestLY)