Govt announces reduction in electricity prices on Eid
![Govt announces reduction in electricity prices on Eid](/content/images/size/w1200/2024/04/electricity.jpg)
Islamabad, Federal Minister for Energy, Sardar Ovais Leghari, has announced a reduction in electricity prices for the public. In a statement, Minister Leghari disclosed that the electricity tariffs for April have been decreased by Rs. 3.82 per unit. This reduction is attributed to adjustments in fuel prices and the overall impact of fuel price adjustments.
According to the minister, the adjustments in fuel prices have led to a decrease in electricity tariffs for the current month. He highlighted that the adjustments in fuel prices have resulted in a decrease of Rs. 7.06 per unit to Rs. 4.92 per unit. Consequently, the cost of electricity has been reduced by Rs. 1.68 per unit.
Minister Leghari further clarified that the determination of the fuel price adjustment (FPA) by the National Electric Power Regulatory Authority (NEPRA) plays a crucial role in setting the reference tariff for the entire year. The FPA, calculated monthly, is based on the cost of fuel used in electricity generation. He emphasized that failing to recover the difference between the actual cost of fuel and the prescribed cost would lead to increased losses for the country.
NEPRA is responsible for determining the fuel price adjustment every month, ensuring a balance between the actual cost of fuel and the prescribed cost.