Electricity consumers in Karachi may soon get a major relief in their monthly bills, as a significant reduction in power tariff is on the cards.

According to official sources, electricity prices for Karachi are expected to go down by Rs6.62 per unit.

The proposed cut in electricity rates will be made under the monthly fuel charges adjustment (FCA) mechanism, which reflects changes in fuel costs for electricity generation. The adjustment request for the month of February has already been submitted to the National Electric Power Regulatory Authority (NEPRA).

Sources confirmed that NEPRA will soon announce the date for a public hearing on the FCA petition. The authority will analyse data, hear arguments, and then make a final decision on whether to approve the proposed reduction in rates.

If approved, this FCA-based relief will be reflected in upcoming bills, easing the burden on millions of Karachiites amid ongoing inflationary pressures.

On Thursday, Prime Minister Shehbaz Sharif announced a major government initiative to reduce electricity prices. The announcement was made during a special ceremony in Islamabad.

During his address, Prime Minister Shehbaz said the electricity price for domestic consumers was Rs48.70, while this year, the electricity price for domestic consumers had been reduced by Rs3.50. He then announced that the electricity price for domestic consumers was being reduced by Rs7 and that all domestic consumers would get electricity at Rs34 per unit.

Moreover, the PM stated that the price of electricity per unit for industry was Rs58.50, and by now, that price had reached Rs48 with a decrease of Rs10. He then announced a reduction of Rs7.59 per unit for industry.

Later in the day, power tariffs were reduced across the country by Rs1.90 per unit in another major relief for electricity consumers following the prime minister's recent announcement. The reduction came as part of the monthly fuel price adjustment.

According to separate notifications issued by regulatory authorities, electricity prices for Karachi consumers were reduced by Rs3.2 per unit under K-Electric's monthly adjustment for January.

Meanwhile, for consumers in the rest of the country (excluding Karachi), electricity prices were reduced by 46 paisas per unit as part of the February adjustment.