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Al-Araby
Al-Araby
Pakistan on Tuesday raised electricity prices to match rising generation costs amid a global energy crisis and a heatwave, even as the country grapples with its highest inflation in over a decade, the power minister said. Inflation last month reached 21.3%, driven mainly by rising food costs, and the country also faces fast-depleting foreign reserves, a depreciating currency and a widening current account deficit. Electricity price increased by Rs 3.5 per unit in Pakistan. — Wajahat Kazmi (@KazmiWajahat) “Cabinet has approved an increase in electricity tariffs but lifeline (poor) consumers wil…