NEPRA hikes electricity prices for K-Electric consumers

ISLAMABAD: The National Electric Power Regulatory Authority (NEPRA) on Friday approved a hike in electricity prices for K-Electric consumers by Rs4.83 per litre, ARY NEWS reported.

According to a notification issued by the NEPRA, the power tariff for K-Electric has been raised by Rs4.83 per unit under fuel adjustment charges for the month of March against demand in the hike of Rs5.27 per unit.

The NEPRA said that it had held a public hearing over a demand to hike the electricity prices on April 27, where approval was given to increase the power tariff for March which will be charged in the month of June.

Earlier in the day, the federal government decided to hike electricity prices by Rs7 besides privatization of profitable public-owned DISCOs after talks with the International Monetary Fund (IMF) for the release of a US$1 billion tranche.

According to sources privy to the matter, the hike of Rs 7 in electricity prices would include an increase in basic tariff and fuel adjustment charges. “The hike in power tariff will be applicable from July 01,” they said.

Moreover, the IMF has also expressed concern over the Rs2,600 billion power tariff and suggested the government immediately privatize the public-owned profitable DISCOs.  It has further been suggested to handover loss-making DISCOs to provinces.

Furthermore, the sources said that the NEPRA will assist the Auditor General of Pakistan in proper audit of the public-owned DISCOs. “The IMF is also pressurizing the government to immediately privatize public-owned power generation companies,” they said.