The Karachi Electric Supply Corporation was established on September 13th, 1913, as the answer to the power needs of Karachi.
With Pakistan’s Independence in 1947, Karachi as its former capital received an immense influx of people and was soon bustling with economic activity. Businesses spawned rapidly and transformed Karachi into Pakistan’s commercial hub.
The ‘City of Lights’, expanded further in the 1980s and 90s, and energy demand grew faster than the supply of energy.
When new management, led by The Abraaj Group took the reins in 2009, it proved to be the advent of a new age for the organisation and Karachi. Value creation was introduced at every level of operations, including environmental, social, and governance policies. 61% of the city is load -shed free and since 2009 the transmission and distribution losses have decreased by 13.7%.
Like the city it serves, KE has come a long way in the past one hundred years. In our second century, we aim to become an example for the world to follow.
On 13th September 1913, the Karachi Electric Supply Corporation was formed to meet the power needs of a small port town called Karachi.
From day one, KESC served its consumers with the utmost zeal, growing quickly with the growing city.
1947 – 1951:
As Pakistan became a reality, Karachi saw a sudden surge in population and power demand also increased rapidly.
Government of Pakistan nationalized KESC in order to facilitate the much needed investment in its infrastructure.
1953 – 1980:
To meet the growing industrial, commercial and residential demand, eight new generating plants were added, with a total capacity of 513 MW.
1981 – 2000:
KESC’s flagship Bin Qasim Power Station 1 (BQPS 1) was added to the generation fleet. KESC was first placed under WAPDA’s control and later the Pakistan Army took over the company’s management.
KESC was privatized, with the government retaining a stake of approximately 26%, while 71% was transferred to a foreign consortium.
The new management, led by The Abraaj Group, took charge, beginning a turnaround story which has thus far seen investments of over USD 1.4 billion.
Unprecedented Investment: Over the next few years more than USD one billion were invested in KESC, adding 1,057 MW of generation capacity, enhancing the utility’s transmission and distribution capabilities, and renewing our focus on customer service.
AZM Change Management Programme: One of the largest cultural change management programme in the corporate history of Pakistan was initiated. KESC embarked on a sustainability journey with renewed vision, mission and values.
Regaining Karachi’s Identity: Massive efforts were made to reduce electricity losses. KESC posted a profit for the first time in 17 years in 2011-12.
Thought Leadership: Driven by its Environmental, Social and Governance value creation philosophy, Energy Conservation and Social Empowerment programmes were undertaken. In addition to that the company engaged with the youth through various initiatives including Sports with the vision of developing Pakistan’s talent. In recognition of the company’s efforts towards embedding sustainable thinking into organizational culture and supporting the community KESC won numerous awards in CSR and environmental excellence.
Rebrand: Being a revived entity with a positive outlook and the ability to bring about sustainable change, KESC felt the need to reposition itself with a new identity: K-Electric was born.
As of 2017, the Abraaj Group and Aljomaih/NIG have a 66.4% stake in K-Electric; the Government of Pakistan’s shareholding stands at 24.36%.