The government has decided to extend subsidy in electricity prices to the industrial consumers till October 31, 2023, reported 24News HD TV channel on Thursday.

The Power Division has submitted an application to National Electric Power Regulatory Authority (NEPRA) in this regard. The government had given a subsidy of Rs 4.96 per unit to industrial consumers. The government has also decided to remove the condition of on peak and off-peak in this regard as well. A sum of 26 billion rupees’ subsidy will be given to the industrial consumers through this package.

The subsidy package will be effective after the approval of NEPRA.

The International Monetary Fund (IMF) has been asking the government to increase the electricity prices. Last month, IMF Resident Representative Teresa Daban Sanchez said it is necessary to increase the electricity tariff rates to lessen the losses of the power sector.

Last year in December, the cabinet’s economic decision-making body did not approve a subsidy of Rs9.5 billion under the prime minister’s industrial package that the Power Division sought to pick the difference between peak and off-peak electricity rates.