Islamabad [Pakistan], July 16 : In a bid to meet the conditions of the International Monetary Fund (IMF), the Pak government has decided to increase the duration of electricity's peak hours, burning a hole in the pockets of power consumers, reported Daily Pakistan.
Following the new rule, the peak hours have increased by two. Whereas, previously, the peak hours were from 6 pm to 10 pm, whereas now they will be from 5 pm to 11 pm Now, consumers have to pay extra for electricity.
Peak hours refer to the times of the day when electricity demand is at its highest, and during this period, consumers are charged the highest rate per kilowatt-hour used.
The electricity rate for consumers using time-of-use meters during peak hours, i.e. from 5 pm to 11 pm will be Rs 49.35 per unit and after peak hours, they will pay Rs 33.3 per unit.
On the other hand, consumers with three-phase meters will now pay Rs 50 per unit during peak hours instead of the earlier rate of Rs30 per unit, reported Daily Pakistan.
Last month, People in Pakistan faced multifaceted chronic problems when it comes to power supply. Their suffering continues unabated in the winter and summer seasons. Residents were deprived of a power supply on one account or another, which includes so-called load management plans, approved shutdowns, technical power failures, and intense fluctuations in voltage, The News International reported.
With an increase in power demand, people have been facing electricity outages spanning up to 14 hours a day.
The government aims to generate additional revenue to cover line losses and manage the power sector's circular debt as it targets to collect more than Rs 3 trillion from the public
According to Daily Pakistan, the government has also directed the Oil and Gas Regulatory Authority (Ogra) to devise a plan for raising gas rates, with plans indicating a potential increase of up to 50 per cent.
These measures have been taken to comply with the IMF’s demands, but they have further burdened the masses as inflation remains high, reported Daily Pakistan.
The International Monetary Fund (IMF) on Wednesday approved a 9-month Stand-By arrangement for Pakistan to support the country's economic stabilization program by providing USD 1.2 billion to the State Bank of Pakistan.
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