In a development that is set to impact consumers across the country, the National Electric Power Regulatory Authority (NEPRA) on Monday granted approval for a tariff hike of Rs 3.28 per unit.
This increase in electricity prices comes as part of the quarterly adjustment and will be in effect from October 1, 2023, to March 31, 2024.
NEPRA's decision to raise electricity tariffs was recently communicated via an official notification.
It is essential to note that this adjustment is not specific to any particular category of consumers; it applies to all electricity consumers across the board.
Inflation is highest since May
Meanwhile, the inflation rate in Pakistan recorded in September on year-on-year basis rose to a staggering 31.4%, according to the Pakistan Bureau of Statistics (PBS).
This alarming figure represents a significant surge from the 27.4% reading recorded in August.
The average inflation rate for the first quarter of fiscal year 2023-24 (FY24) now stands at 29.04%, compared to 25.11% in the same period of FY23.
Breaking down the inflation data, the PBS reported that CPI (Consumer Price Index) inflation in urban areas jumped to 29.7% year-on-year in September 2023, compared to 25.0% in the previous month and 21.2% in September 2022.
On a month-on-month basis, it increased to 1.7% in September 2023, up from 1.6% in the previous month but lower than the 2.1% decrease observed in September 2022.
