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Another ‘electric shock’ for Pakistanis as NEPRA approves Rs3.28 per unit hike in power tariff

09:18 AM | 23 Sep, 2023
Another ‘electric shock’ for Pakistanis as NEPRA approves Rs3.28 per unit hike in power tariff
Source: File Photo

ISLAMABAD – No respite for Inflation hit Pakistanis as power tariff is set to be increased by Rs3.28 per unit, as people are facing unprecedented record high electricity bills.

As people protested across the country against the elevated power tariff, the Power Regulator approved another hike on account of fuel cost adjustment.

The increase of Rs3.28/unit stemmed from under quarterly tariff adjustment (QTA) system to manage the additional impact of capacity charges in the wake of surge in interest rate, rupee devaluation, and other factors.

It was reported that power division of energy ministry originally sought a Rs6.20 per unit adjustment for the fourth quarter of 2022-23 FY for ex-Wapda distribution companies (Discos) to fill the gap of Rs146 billion within 3 months.

NEPRA sent the latest decision to the interim government for the final nod, and the surge in power tariff will come into effect immediately.

During the period of October 2023-March 2024, Discos eye recovering Rs159 from power consumers.

Earlier in September, several Pakistani cities witnessed protests over a hike in electricity bills which is creating trouble for millions. Distressed people staged protest demonstrations on key arteries for all kinds of traffic, and caused traffic jams for hours, and even burned bills but to no avail.

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Pakistani rupee inches up against US dollar, Euro, Pound and other currencies - Check forex rates here

Pakistani rupee advanced its winning momentum against US dollar, and other currencies in the open market amid strong economic cues.

Dollar Rate in Pakistan Today

On Saturday, the US dollar was being quoted at 285.15 for buying and 287.95 for selling.

Euro moves down to 309.9 for buying and 310.5 for selling. British Pound rate stands at 359.4 for buying, and 360.05 for selling.

UAE Dirham AED also moved down to 77.45 whereas the Saudi Riyal drops to 75.82.

Today's currency exchange rates in Pakistan – 2 December 2023

Currency Symbol Buying Selling
US Dollar ‎USD 285.15  287.95 
Euro EUR 309.9  310.5 
UK Pound Sterling GBP 359.4  360.05 
U.A.E Dirham AED 77.45  77.6
Saudi Riyal SAR 75.82 75.97
Australian Dollar AUD 187.72 188.22
Bahrain Dinar BHD 759.94 767.94
Canadian Dollar CAD 209.99 210.49
China Yuan CNY 39.78 39.88
Danish Krone DKK 41.95 42.05
Hong Kong Dollar HKD 36.38 36.48
Indian Rupee INR 3.39 3.5
Japanese Yen JPY 1.49 1.56
Kuwaiti Dinar KWD 926.39 935.39
Malaysian Ringgit MYR 60.38 60.98
New Zealand Dollar NZD 173.44 175.44
Norwegians Krone NOK 26.25 26.55
Omani Riyal OMR 742.16 750.18
Qatari Riyal ‎QAR 78.5 79.2
Singapore Dollar SGD 212.45 212.95
Swedish Korona SEK 27.09 27.19
Swiss Franc CHF 325.38 325.88
Thai Bhat THB 8.05 8.09

Gold registers big fall in Pakistan; check today gold rates in Pakatan - 2 December 2023

The price of gold fell by thousands of rupees as precious metal lost shine despite an upward trend in the international market.

Gold Rates in Pakistan Today - 2 December 2023

On Saturday, the price of a single tola of 24-karat gold stands at Rs217,300 and 10 grams of 24k gold costs Rs186,300.

Meanwhile, single tola of 22 Karat gold costs Rs199,190, 21 karat rate costs Rs190,138 and 18k gold rate is Rs162,975.

Globally, gold prices hover at around $2072, gaining $32 on Saturday.

Today Gold Rate in Pakistan

City Gold Silver
Lahore PKR 217,300 PKR 2,705
Karachi PKR 217,300 PKR 2,705
Islamabad PKR 217,300 PKR 2,705
Peshawar PKR 217,300 PKR 2,705
Quetta PKR 217,300 PKR 2,705
Sialkot PKR 217,300 PKR 2,705
Attock PKR 217,300 PKR 2,705
Gujranwala PKR 217,300 PKR 2,705
Jehlum PKR 217,300 PKR 2,705
Multan PKR 217,300 PKR 2,705
Bahawalpur PKR 217,300 PKR 2,705
Gujrat PKR 217,300 PKR 2,705
Nawabshah PKR 217,300 PKR 2,705
Chakwal PKR 217,300 PKR 2,705
Hyderabad PKR 217,300 PKR 2,705
Nowshehra PKR 217,300 PKR 2,705
Sargodha PKR 217,300 PKR 2,705
Faisalabad PKR 217,300 PKR 2,705
Mirpur PKR 217,300 PKR 2,705

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