Karachi: K-Electric, has requested a substantial increase of Rs. 18.86 per unit in their monthly adjustment for 7 months.
According to a report by ‘Dawn News,’ KE has submitted a request to the National Electric Power Regulatory Authority (NEPRA) for the monthly adjustment from July 2023 to March 2024.
Additionally, the company has also requested a reduction of 29 paisas per unit for 2 months, which would result in an overall increase of Rs. 18.57 per unit.
NEPRA will hear KE’s request on May 9.
It’s worth noting that the government had recently increased electricity rates for citizens by Rs. 2.75 per unit, followed shortly by an additional Rs. 4.92 per unit.
This price hike comes amidst global concerns as the World Bank recently reported that electricity and gas prices in Pakistan have reached their highest levels in 50 years, contributing significantly to inflation.
According to the World Bank’s report, energy costs in urban areas increased by 50% in the first half of the current fiscal year, leading to a substantial rise in production costs.
Last year, during the same period, energy costs in urban areas had increased by 40.6%.
The average inflation in Pakistan during the first half of the current fiscal year stood at 28.8%, compared to 25% during the same period last year.
