K-Electric seeks Rs18.86/unit power tariff hike under FCA

ISLAMABAD: The K-Electric has sought a whopping Rs18.86/ unit hike in the power tariff on account of monthly Fuel Charges Adjustments (FCA) of seven months in an application to the National Electric Power Regulatory Authority (NEPRA), ARY News reported on Monday.

The power utility has asked for an increase in the power tariff for Karachi consumers by Rs18.86/unit for seven months (July 2023 to March 2024).

The sole power provider of the port city has requested to lower the power tariff for two months by Rs0.29/unit.

The NEPRA will conduct a hearing on the K-Electric application on May 9.

In a separate development on Saturday, it emerged that the federal government has finalised a plan to privatize profit-making power distribution companies (Discos).

Read more: Electricity bills to surge as govt set to privatize Discos

Sources in the power division told ARY News that the Shehbaz-led coalition government has finalised the plan to privatize five profit-making power companies.

The power companies include Lahore Electric Supply Company (LESCO), Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), Multan Electric Power Company (MEPCO) and Faisalabad Electric Supply Company (FESCO).

In the first phase, the government has decided to constitute new board for power companies, they say, adding that the privatization ministry has sent a summary to the cabinet regarding the formation of a high-powered 12-member board for Discos privatization.