Karachi, June 2, 2025: K-Electric (KE), Pakistan’s only vertically integrated power utility, held its Corporate Briefing Session at the Pakistan Stock Exchange (PSX) on Monday, reaffirming its commitment to reliable, affordable, and sustainable power supply to Karachi and its adjoining areas.
The session provided stakeholders, analysts, investors and members of the media with a comprehensive update on KE’s operational progress, recently announced tariff decisions by the regulator, and strategic direction.
During the briefing, KE presented its recently approved Multi-Year Tariff (MYT) for FY24–FY30, which enables its proposed execution of the USD 2 billion investment plan to modernise and expand Karachi’s power infrastructure.
The utility also discussed its progress in renewable energy development, having successfully completed competitive bidding for 640 MW of renewable projects. These include landmark bids such as the 220 MW hybrid solar-wind project at Dhabeji, awarded at a record-low tariff of PKR 8.92/kWh, which stands approved along with the 150 MW Winder-Bela solar Projects. In line with its ambition to diversify the energy mix and reduce reliance on expensive fuels, KE aims to integrate 30% renewable energy share into its generation mix by 2030.
“NEPRA’s approval of our MYT enables us to unlock critical investments in infrastructure for safe and reliable supply of power. The approved tariff will allow us to build on our commitment to operational efficiency, sustainability, and community outreach,” said Muhammad Aamir Ghaziani, Chief Financial Officer at K-Electric.
“With a lot of misgivings around the approved tariff, I want to stress that this approval will not impact consumer-end tariff which is governed under the Government of Pakistan’s uniform tariff policy.”
Since privatization in 2005, KE has invested over USD 4.6 billion in its infrastructure – reinvesting all profits. These investments have led to major improvements across the power value chain, including a 104% increase in transmission capacity, a 2.3x growth in distribution capacity, 18.2 percentage points reduction in T&D losses, and a 16 percentage points improvement in generation efficiency. KE’s grid infrastructure has expanded from 52 to 74 grid stations, and load-shed exempt network has increased from 6.6% in 2005 to 70% today. Most notably, KE’s AT&C losses have dropped from 43% in 2009 to 23.1% in 2024.
KE also addressed broader sectoral issues during the session, including non-provision of local gas impacting a significant portion of KE’s tariff. KE also said that it has zero contribution to the current burden of circular debt, which is driven by inefficiencies in public distribution companies. The company emphasised that privatisation and performance-based accountability – backed by regulatory and policy support – remain vital for long-term sectoral sustainability.
ABOUT K-ELECTRIC:
K-Electric (KE) is a public listed company incorporated in Pakistan in 1913 as KESC. Privatized in 2005, KE is the only vertically integrated utility in Pakistan supplying electricity to Karachi and its adjoining areas. The majority shares (66.4%) of the company are owned by KES Power, a consortium of investors including Aljomaih Power Limited of Saudi Arabia, National Industries Group (Holding), Kuwait, and the Infrastructure and Growth Capital Fund (IGCF). The Government of Pakistan is also a minority shareholder (24.36%) in the Company.
