In 2023, Pakistan increased electricity and gas tariffs significantly, following demands from the International Monetary Fund (IMF).
These increases imposed an additional burden of over Rs2,200 billion on consumers. The government raised electricity rates by Rs10.73 per unit and discontinued Kisan and Exports sector packages valued at Rs65 billion to meet IMF requirements.
Consumers faced a permanent surcharge of Rs3.23 per unit, coupled with monthly and quarterly adjustments, resulting in a total burden of over Rs1,150 billion in 2023. Throughout the year, electricity tariffs saw ten increments through monthly fuel adjustments.
Similarly, responding to the IMF's pressure to address energy sector debt, the government hiked gas tariffs by a staggering 312% in 2023. This increase occurred in two stages, with a 112% rise on January 1 and a subsequent 200% hike in November. Fixed charges for protected consumers surged by Rs400 per month, up from Rs10.
On December 20, the National Electric Power Regulatory Authority (NEPRA) announced a Rs1.15 per unit increase in electricity tariffs. NEPRA attributed this adjustment to the monthly fuel assessment for the first quarter of the current fiscal year, indicating that consumers would face additional charges in their bills from January to March 2024.
