Karachi electricity consumers likely to get big relief

KARACHI: The electricity tariff is likely to decrease by Rs6.62 per unit, in major relief for K-Electric consumers, ARY News reported.

As per details, Karachi-Electric submitted a request to the National Electric Power Regulatory Authority (NEPRA) seeking a reduction in electricity prices under fuel adjustment for February.

NEPRA is set to hold a hearing on K-Electric’s request pertaining to the monthly fuel adjustment for February on April 16.

If approved, the reduction in the power tariff will provide a relief of over Rs6.66 billion to consumers.

Earlier, Prime Minister Shehbaz Sharif announced a significant reduction in electricity prices, describing it as a major relief for the public.

Read more: PM Shehbaz announces reduction in electricity prices

Speaking at an event organized for the announcement, he revealed that the government has decided to lower the electricity tariff by Rs 7.41 per unit for domestic consumers and Rs 7.59 per unit for industries.

The prime minister expressed confidence that this reduction would stimulate economic activities across the country, referring to it as a gift to the nation in celebration of Eid.

He said that successful negotiations with Independent Power Producers (IPPs) will result in a massive saving of Rs3,696 billion. To address the issue of circular debt, which currently stands at Rs2,393 billion, PM Shehbaz said arrangements have been made.

The prime minister also expressed his determination to tackle power theft, which amounts to Rs600 billion annually. He stressed the importance of privatizing all power distribution companies or transferring them to provincial authorities.