Karachi: The President of the Korangi Association of Trade and Industry (KATI), Johar Qandhari, has voiced significant concerns over the National Electric Power Regulatory Authority’s (NEPRA) recent decision to approve an increase of more than Rs 5 per unit in the fuel surcharge for electricity in Karachi. This hike, Qandhari, is escalating production costs to unsustainable levels, threatening the viability of local industries.

According to Korangi Association of Trade and Industry, Qandhari highlighted an ongoing review by NEPRA for an additional Rs 3 per unit increase, which he believes will further exacerbate the economic strain. He urged NEPRA to consider the broader economic impact and the capacity of both the public and industries to absorb these rising costs without compromising their competitive edge in global markets.

Qandhari criticized the regulatory authority for not adequately considering the economic and social repercussions of such price hikes, pointing out that these increases are contributing to growing public discontent. He emphasized that Pakistan’s electricity rates are already among the highest in the region, and further hikes could potentially cause long-term damage to the nation’s economic structure.

The KATI President called for immediate governmental and regulatory intervention to curb electricity production costs and stabilize prices, stressing the urgency of providing relief to industries and the general populace alike.