KARACHI: leaders of the United Business Group (UBG), including Chief Petron S.M. Tanveer, President Zubair Tufail, Momin Ali Malik, Khalid Tawab, Hanif Gohar and Mazher A. Nasir, have expressed grave concern and anxiety over the recent significant increase in electricity tariffs by K-Electric.
They vehemently reacted to the National Electric Power Regulatory Authority (NEPRA) approving and announcing a hike in electricity rates, which will see residents of Karachi facing higher electricity bills in the coming months.
Effective from June to September, the notification stipulates that the cost per unit of electricity will rise to Rs9.98, up from the previous rate. The UBG leaders have demanded an immediate withdrawal of this increase, citing that K-Electric's tariff is already excessively high. Besides, K-Electric's long-hour load shedding has severely disrupted the economic activities of Karachi, they added.
NEPRA’s decision to increase electricity prices is attributed to a monthly fuel adjustment for the next nine months which is unjustified. This adjustment will impact consumers starting from June, with additional charges per unit progressively increasing until September. Specifically, the notification details that consumers in Karachi will bear extra costs as follows:
In June: An additional Rs2.67 per unit;
In July: An additional Rs3.10 per unit;
In August: An additional Rs3.22 per unit;
In September: An additional 99 paisas per unit.
The UBG leaders emphasized that NEPRA’s recent notification, confirming the approval and implementation of this increase, will impact millions of electricity consumers in Karachi. This rise in electricity prices underscores the ongoing challenges faced by residents in managing their monthly expenses.
Copyright Business Recorder, 2024
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