K Electric has announced the financial results in which the company reported a loss of PKR 27 billion this year, while last year the company made a profit of PKR 3.3 billion. The result further stated that, all the electricity-generating units are working at full capacity.
However, the experts rejected the financial results released by the KE and termed them contrary to the facts.
According to experts, K Electric is generating 30 percent of Karachi's total demand from its sources while getting 1100 MW of electricity from the National Grid. On the other hand, the
NEPRA report revealed that K Electric is buying electricity from the Central Power Purchasing Authority (CPPA) at PKR 7 per unit while selling it to the people of Karachi at PKR 18 to 35 per unit. Apart from this, K Electric gets permission from NEPRA for adjustment of consumer bills in terms of monthly fuel adjustment, which leaves no reason for loss to the company.
Sources have also revealed that K Electric is not making regular payments for the electricity purchased from CPPA.
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Experts say that K Electric is charging the price of furnace oil from consumers by generating 30 percent of the electricity demand from gas and other sources. They further said that K Electric is making more profit by doing load shedding for hours in the name of maintenance in the city. In this regard, in Nazimabad, Golimar, Aurangabad, Chandni Chowk and other adjoining areas, 10 to 12 hours of load shedding is being done in the name of maintenance every two to three days.
Residents of the area have complained that K Electric shut down the electricity late at night, which has caused severe suffering to the citizens, while the people receive huge over bills every month, on which the residents go to complaint centers to fix their bills but there is no accountability, rather the K Electric is collecting over billing by making installments instead of correcting public bills.
Consumers have also complained that K Electric harasses citizens to pay their bills before the due date. Citizens complained that before the due date, officials from KE come to the houses on the pretext of checking bills and demanding to pay the bill immediately otherwise face disconnection of the connection and ask for extra money for restoring electricity.
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Citizens have said that in these difficult circumstances when inflation is at the highest level in history, over-billing by K-Electric taking advantage of monopoly and no accountability to correct overbilling has further increased the problems. People have appealed to the Prime Minister to take immediate action on K Electric's extra billing and harassment of citizens.
Ministry of Energy should take immediate notice of the manipulation of financial results by K Electric and force them to provide uninterrupted electricity to the citizens for which they are paying every month.