The Federal Finance Ministry has decided to cut down subsidies being given to power consumers by Rs60 billion and also imposed a surcharge on commercial and industrial consumers in accordance with the conditions set by the International Monetary Funds (IMF).
After deciding to cut power sector subsidies to appease the IMF, power ministry has reduced subsidy worth Rs60 billion as a result domestic consumers will be deprived from a relief ranging between Rs0.24/unit to Rs1.67 per unit.
Earlier, National Electric Power Regulatory Authority (Nepra) approved 2 to 6 percent cut in power price for financial year 2013-14 due to technical losses of power distributing companies (DISCOs). And, for the first time it was expected that power price for domestic, commercial and industrial consumers will witness decline in the days ahead.
However, a meeting held on June 21 under the chair of finance minister, where minister for water and power was also in attendance, decided that no power price cut would be made for domestic, commercial, industrial consumers.
