Islamabad: NEPRA has accorded approval to slash power tariff by Rs 1.75 per unit.

NEPRA completed the hearing of the application filed by CPPA under the head of quarterly adjustment.

NEPRA will issue decision after making further review of data.

The reasons for curtailing price of electricity for the fourth quarterly of financial year 2024-25 was reviewed.

Due to reduction in electricity tariff, a relief over Rs 53.39 billion will be afforded to consumers.

Quarterly adjustment will be applicable to all DISCOs including K-Electric.

The authority was told circular debt has gone down by Rs 780 billion.

The authorities said circular debt has witnessed reduction from Rs 2300 billion to Rs 1600 billion. Circular debt has been reduced to the tune of Rs 200 billion due to improvement in performance of power distribution companies. A difference of Rs 18 billion has emerged due to closure of Neelum-Jhelum Hydro power plant.

According to authorities transmission and distribution losses have also been reduced. Demand of electricity has increased by 31 percent in all DISCOs.

The authority raised questions regarding surge in industrial growth of electricity but no CEO of DISCOs could give satisfactory reply.

Authorities said government is working on reforms in direct subsidy and cross subsidy.

Inquiry against power distribution companies on the matter of overbilling has been sent to Prime Minister.

According to authorities, action has been taken against several officers of LESCO.

Talks are underway with provinces for abolition of electricity duty.

Power division said two provinces have not given reply so far.