Electricity consumers in Karachi could see a significant reduction in power tariffs, with rates expected to decrease by Rs4.95 per unit, according to a report.
As per the details, K-Electric has formally requested the National Electric Power Regulatory Authority (NEPRA) to approve a cut in electricity prices.
NEPRA is scheduled to conduct a hearing on the matter, which relates to the monthly fuel adjustment for December. If approved, this reduction would provide Rs4.94 billion in financial relief to consumers.
Earlier this month, Prime Minister Shehbaz Sharif assured that electricity tariffs would continue to decrease for both residential and industrial consumers as part of ongoing reforms in the energy sector.
During a review meeting in Islamabad, the Prime Minister expressed satisfaction with the sector’s improvements, stating that the reforms were yielding positive results.
He reaffirmed his commitment to ensuring a supply of affordable and sustainable electricity, highlighting that renegotiating agreements with Independent Power Producers (IPPs) has helped save the national treasury and lower electricity costs for consumers.
Additionally, PM Shehbaz reiterated the government’s crackdown on power theft and promised to intensify efforts to eliminate financial losses faced by distribution companies.