KARACHI - K-Electric, the sole power utility in Karachi, on Thursday submitted a request to the National Electric Power Regulatory Authority (NEPRA) seeking another hike of Rs11.39 in tariff under fuel adjustment charges.

According to the request, the power utility has requested a massive increase of Rs11.39 for the month of June 2022. The national power regulator will take up the KE’s plea for a hearing on July 28, 2022.

Earlier, the National Electric Power Regulatory Authority (NEPRA) heard the federal government’s petition seeking Rs 7.91 per unit hike in basic power tariff.The electric power regulator will decide on the matter after the hearing and forward its decision to the government for notification.

The NEPRA hearing presided over by its chairman Tauseef Farooqui will take decision over the government plea for hike in basic tariff of all power distribution companies including the K-electric, the power utility, which supplies electricity to Karachi.

Meanwhile, the President Hyderabad Chamber of Commerce and Industry Adeel Siddiqui has urged the federal government to impose economic emergency in consultation with all stakeholders without any delay in order to find economic solution.

In a statement issued here on Thursday he emphasized the need of appointment of the Governor State Bank of Pakistan with immediate effect as well. He said that current situation in foreign exchange market also seeking serious attention from the government.

He said that interest rate’s benchmark in Malaysia was 2.2 percent while it was 3.5 percent in Indonesia, 3.7 percent in China, 4.75 percent in Bangladesh and 4.9 percent in India but in Pakistan, it was 15 percent. He said that such situation would make it difficult for private sector to compete effectively.