The Economic Advisory Council (ECC) met today in Islamabad with Finance advisor Abdul Hafeez Sheikh in chair. The ECC decided to increase the per unit electricity prices by 30 paisas making it the third time in 24 hours to increase the prices.
حکومت کا بجلی اگلے ایک سال کے لیے بجلی مہنگی کرنے کا اعلان۔
— HUM News (@humnewspakistan) October 2, 2019
Before this the federal cabinet had approved an increase of 53 paisas and later on today Nepra also increased the per unit price of electricity by 1 rupees 66 paisas. The ECC’s decision to increase prices of the electricity was the third time inside 24 hours that electricity prices were increased.
According to sources the recent increase in electricity prices has come as per the assurance to International Monetary Fund (IMF). Pakistan is facing revenue shortfall and IMF had demanded to overcome the revenue shortfall which is why the electricity prices are jacked up.