K-Electric requests Rs11.33 per unit increase in May’s fuel adjustment charges

PM Shahbaz has again blamed PTI’s agreement with IMF for the price hike.

KARACHI: K-Electric, the sole company responsible for supplying electricity to Karachi, has requested an increase of Rs11.33 per unit in terms of fuel adjustment charges for May.

The K-Electric spokesperson said the increased prices would be applicable.

He said, as per the National Electric Power Regulatory Authority (NEPRA) rules, its monthly hearing would be held on July 4.

The spokesperson said from March 2022 to May 2022, price of furnace oil has jacked up by 38 per cent. On the other hand, Regassified Liquefied Natural Gas (RLNG) price also rose by 50 per cent from March to May, he maintained.

He said price of CPPA-G boosted by 53 per cent as it was Rs9.098 in March and Rs13.897 in May.

The K-Electric official said the new price would be applicable in consumers’ bills after a public hearing and inspection by the NEPRA.

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On June 17, former federal minister for finance and revenue Shaukat Tarin had said the government had failed to satisfy the International Monetary Fund (IMF) despite increasing the prices of petrol and diesel.

In a series of tweets, Shaukat Tarin had said the latest economic survey had also validated the Pakistan Tehreek e Insaf (PTI) government’s economic performance.

However, he had said since the coalition government came into power, everything had gone wrong.

“Despite increasing petrol/ diesel prices by Rs84/115 per litre, power/ electricity prices by 50%, you have not been able to satisfy IMF.

Latest economic survey released by your government validates our strong economic performance, so stop blaming us and improve performance of your government.

“Mian Shahbaz Sharif has again blamed PTI’s agreement with IMF for the price hike. I want to remind him that economy was growing, exchange rate was strong, inflation was moderate, stock exchange at 46k and Kibor at 11.5%.

Everything has gone South since your government has come in,” he had said.