National Electric Power Regulatory Authority (NEPRA) of Pakistan has given its approval for an increase in electricity prices by Rs1.90 per unit. This decision was made in response to a petition filed by the Central Power Purchasing Authority (CPPA), which had initially requested a Rs2.09 hike in power tariffs. The petition was filed on behalf of power distribution companies (DISCOs).
The decision to approve the price hike was reserved on July 5 and announced later. The additional charges will be reflected in the consumer bills for the month of July 2023. However, it is important to note that this increase in power tariff will not apply to Electric Vehicle Charging Stations (EVCS) and Lifeline consumers, as stated by NEPRA.
This news comes alongside updates on foreign currency exchange rates in Pakistan’s open market as of July 20, 2023. The US Dollar is being traded at 285.9 for buying and 290.15 for selling. The Euro stands at 316 for buying and 322.6 for selling. Other currencies’ rates have also been updated.
In addition to the electricity price hike, the price of gold in Pakistan has also seen fluctuations. As of July 20, 2023, the price of a single tola of 24-karat gold stands at Rs 226,400. The rate of gold is subject to changes in the international market, hence the prices are never fixed.
