Saturday, July 20, 2024

K-Electric Invested Rs. 474 Billion since 2005

The Senate Standing Committee on Power recently notified that around Rs474 billion of investment has been made in K-Electric since it got private in 2005.

The Senate Committee which met with Saifullah Abro in the chair was informed further that K-Electric has an dues of Rs475 billion against federal and provincial domains.

Since the privatisation of firm the government sold around 72.3% of its shares and set it as a private firm, K-Electric CEO Monis Alvi informed.

Now, the government is the owner of 24.6% of its shares and in total there are 13 directors in which 3 are from government and 10 from.private, stated further.

However, the senate recommended detailed in-camera briefing by the CEO on the status of renewal of agreement between government and K-Electric which also includes the process of privatisation, performance and working, status update on distribution and generation. While the pending issues would be discussed in next meeting between both the parties.

Related Articles

Latest Articles