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Pakistan jacks up electricity prices by Rs4.66/unit on account of fuel charges adjustment

09:40 AM | 3 Feb, 2024
Pakistan jacks up electricity prices by Rs4.66/unit on account of fuel charges adjustment
Source: File Photo

KARACHI – In another blow for inflation-hit people, the power regulator jacked up the electricity tariff by Rs4.56 per unit on Saturday.

The National Electric Power Regulatory Authority (NEPRA) issued a notification, raising the power tariff by Rs 4.56 per unit in the account fuel adjustment charges for month of December 2023.

Ahead of the elections, people were expecting some relief but consumers faced back-to-back blows, first petrol and now the hike in power tariff that will blow their household budgets.

The hike, linked to fuel adjustment, will collectively burden power consumers with an additional Rs39.5 billion.

It is worth noting that in two months, electricity prices have gone up by Rs8.69 due to fuel price adjustment. In November alone, the electricity tariff was raised by Rs4.13. 

In just two months, the power tariff rise has put an additional burden of Rs76 billion on consumers. 

The recent increase in power tariff applies to all consumer categories except for those served by K-Electric and Lifeline customers.

NEPRA notified the surge after ending a hearing on Central Power Purchasing Agency (CPPA) petition seeking a hike in electricity tariff by Rs5.63 per unit.

The decline in electricity consumption also played a role in the elevated prices, and will surely contribute to more inflation, especially in hard times when people are paying record prices for basic commodities.

Daily Pakistan Global Web Desk

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Pakistani rupee exchange rate against US dollar, Euro, Pound and Riyal - 29 Feb 2024

Pakistani rupee remains stable against US dollar in the open market on February 29, 2024 (Thursday).

US Dollar rate in Pakistan

In the open market, the US dollar was being quoted at 279.1 for buying and 282.35 for selling.

Euro currently stands at 303 for buying and 306 for selling while British Pound rate stands at 352 for buying, and 355.5 for selling.

UAE Dirham AED hovers at 76 whereas the Saudi Riyal saw slight increase, with new rates at 74.3.

Today’s currency exchange rates in Pakistan - 29 Feb 2024

Source: Forex Association of Pakistan. (last update 09:00 AM)
Currency Symbol Buying Selling
US Dollar USD 279.1 282.35
Euro EUR 303 306
UK Pound Sterling GBP 352 355.5
U.A.E Dirham AED 76 76.7
Saudi Riyal SAR 74.3 75.1
Australian Dollar AUD 181 183
Bahrain Dinar BHD 743.11 751.11
Canadian Dollar CAD 207 209.2
China Yuan CNY 38.82 39.22
Danish Krone DKK 40.69 41.09
Hong Kong Dollar HKD 35.7 36.05
Indian Rupee INR 3.37 3.48
Japanese Yen JPY 2.1 2.18
Kuwaiti Dinar KWD 907.32 916.32
Malaysian Ringgit MYR 58.49 59.09
New Zealand Dollar NZD 173.05 175.05
Norwegians Krone NOK 26.36 26.66
Omani Riyal OMR 725.68 733.68
Qatari Riyal QAR 76.74 77.44
Singapore Dollar SGD 207 209
Swedish Korona SEK 27.04 27.34
Swiss Franc CHF 317.76 320.26
Thai Bhat THB 7.76 7.91

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