Karachi Matters Editor
Following discussions with Independent Power Producers (IPPs), Minister for Energy Ovais Laghari announced that the price of electricity per unit may potentially decrease by ten to twelve rupees.
He indicated that this adjustment will be implemented gradually, with an estimated timeframe of approximately one and a half years.
Speaking at IBA Karachi, Ovais Laghari expressed hope for guidance from Allah for the electric companies, noting that the high cost of electricity has resulted in a substantial subsidy of 170 billion rupees for the residents of Karachi, which he deemed unacceptable.
He also voiced opposition to the implementation of uniform electricity rates nationwide, highlighting that certain IPPs have achieved profits eleven times their investment. He assured that any forthcoming decisions would involve consultations with the IPPs.
