Electric shock for millions as tariffs soar

In yet another shock to the tax-bitten masses, the government on Wednesday approved up to 51% or Rs7.12 increase in the per-unit price of electricity from July, the highest raise in terms of percentage for the lower income groups. In one go, 32.5 million consumers, mainly households, will be forced to pay an additional amount of at least Rs580 billion in this fiscal year. The rate is over and above the existing cost of electricity, which the consumers will pay, mainly due to mismanagement and wrong energy policies of past three decades. Among these 32.5 million electricity consumers, 26 million households fall in the category of the poorest to low-middle income groups – the segments that have seen the maximum increase in prices in terms of percentage.