Karachi, August 30, 2023: K-Electric spokesperson reiterated that the company understands the prevailing concerns regarding the rising electricity prices and shed light on the fact that power distribution companies operate in a regulated environment in the country and that electricity rates and applicable taxes are determined by NEPRA and the honourable Government of Pakistan. As such, any stipulated changes will be applicable across the board on all DISCOs (Distribution Companies), including K-Electric.
Further, he mentioned that KE’s profitability or loss is not linked with an increase or decrease in electricity prices or taxes and in fact the former is associated with investments and an improvement in performance. The spokesperson also emphasized that timely payment of bills is essential in ensuring an uninterrupted supply of electricity while power theft, illegal connections, and non-payment collectively become a hindrance, thus adversely affecting supply.
KE staff is working tirelessly to overcome the issue of power theft; however, they are being met by hostility in some areas and are prevented from fulfilling their duties which may affect essential services which KE confirms to. The company has therefore requested concerned government departments for ensuring the well being and safety of its staff so that electricity services are not affected where they may potentially be vulnerable to harassment of any kind. KE values its people and will not accept violence against them.
KE continues to support and encourage all customers and area representatives who are creating a positive difference in the society through their persevering efforts in curbing power theft and ensuring that fellow citizens are facilitated when it comes to the provision of electric supply.
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 within a 6500 square kilometers territory including Karachi and its adjoining areas. The majority shares (66.4%) of the company are listed in the PSX 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.