KARACHI: Electricity consumers in Karachi may soon get a major relief in their monthly bills, as there is a possibility of a significant reduction in electricity rates.
According to official sources, electricity prices for Karachi are expected to decrease by Rs 6.62 per unit. The proposed reduction in electricity rates will be made under the monthly Fuel Charges Adjustment (FCA) mechanism, which reflects the change in fuel costs for power generation.
The adjustment request for the month of February has already been submitted to the National Electric Power Regulatory Authority (Nepra).
Sources confirmed that Nepra will soon announce the date of public hearing on the FCA request. The authority will analyze the data, hear arguments, and then take a final decision on whether to approve the proposed reduction in rates. If approved, this FCA-based relief will be reflected in the upcoming bills, which will ease the burden on millions of Karachiites amid ongoing inflationary pressures.
On Thursday, Prime Minister Shehbaz Sharif announced a major government initiative to reduce electricity prices. This was announced during a special ceremony in Islamabad.
During his address, Prime Minister Shehbaz Sharif said that the price of electricity for domestic consumers was Rs 48.70, this year the price of electricity for domestic consumers has been reduced by Rs 3.50. After this, he announced that the price of electricity for domestic consumers is being reduced by Rs 7 and all domestic consumers will get Rs 34 per unit of electricity.
Furthermore, the Prime Minister said that the price of electricity per unit for industry was Rs 58.50 and so far this price has reached Rs 48 with a reduction of Rs 10. After this, he announced a reduction of Rs 7.59 per unit for industry.
Later in the day, in another major relief for electricity consumers following the recent announcement by the Prime Minister, electricity rates across the country were reduced by Rs 1.90 per unit.
The reduction has been made as part of the monthly fuel price adjustment. According to separate notifications issued by the regulatory authorities, K-Electric reduced electricity prices for Karachi consumers by Rs 3.2 per unit under its January monthly adjustment. Meanwhile, electricity prices for consumers in the rest of the country (excluding Karachi) were reduced by 46 paisa per unit under its February adjustment.
