Geo Business

Up to 4% rise in power tariff likely

Updated at: 2024 PST,  Thursday, May 05, 2011  ISLAMABAD: The power tariff is likely to witness an increase of up to 4 percent during the period till June 15 while the price of electricity could be made further expensive by Rs1.50 per unit from the beginning of the next fiscal year, Geo News reported Thursday. According to sources, the price of electricity may be raised by 2 percent on May 15 while as much increase is also expected on June 15. Therefore, the power tariff may see a total hike of 4 percent in the next two months. The government had to give Rs170 billion in power subsidy so far in the current fiscal against the original allocation of Rs30 billion, sources said. In the next financial year the amount to be earmarked for power subsidy will be Rs35 billion and this will be spent in meeting the line losses.