K-Electric has invested $1 billion for power generation and up-gradation of distribution system and another $2 billion would be invested in next four years: Chief Executive Officer
Karachi, April 20, 2015 (PPI-OT): Chief Executive Officer K-Electric Tayyab Tareen said that for the last ten years the load shedding of electricity in Karachi was at its peak due to issues of power generation, transmission, distribution and others, but to overcome the paucity of electricity K-Electric has invested $ 1 billion for power generation and up-gradation of distribution system, and another $ 2 billion would be invested in next four years.
This was stated by him at the occasion of luncheon meeting hosted in his honour by Korangi Association of trade and Industry (KATI). At the occasion Patron-in-Chief KATI S.M. Muneer, President KATI Rashid Ahmed Siddiqui, Senator Abdul Haseeb Khan, Zubair Chhaya, Chairman Standing Committee K-Electric Najmul Arfeen spoke and Abdul Sami Khan, Syed Farukh Mazhar, Johar Ali Qandhari, Ehtesham Uddin, Danish Khan, Zahid Saeed and others were present on the occasion.
Tayyab Tareen said that at present 59% area of Karachi including four industrial zones are exempted from the load shedding and by year 2018 another 700 MW would be acquired from coal plant under the agreement with Chinese Company which would result in lowering of K-Electric tariff. He further said in future new circuits and ABC cabling would be installed from an investment of $ 400 Million.
He said that presently K-Electric in Karachi is facing 23% line losses where as the demand of electricity rose to 3000 MW in May and June. Tayyab Tareen said that the K-electric is eager to increase its capacity and many new agreements are also being signed and therefore discussions on LNG with Angro is being carried out.
At the occasion S.M. Muneer said that corporate culture has been introduced in K-Electric and issues of electricity have been being reduced, and the distribution network of K-Electric is much better as compared to other cities of Pakistan.
The President KATI Rashid Ahmed Siddiqui said that K-Electric is doing a good job under its Chief Executive Tayyab Tareen and soon we would see zero loadshedding in Karachi. At present Korangi industrial area is exempted from Loadshedding however the industrialists are concerned due to shortage of water.
For more information, contact:
Press Secretary KATI
Korangi Association of Trade and Industry (KATI)
ST-4/2, Sector 23, Korangi Industrial Area,
Category: General Business News