Pepco arrears against Kesc exceed Rs83 billion

KARACHI: Karachi Electric Supply Company (Kesc) failing to make payments has accumulated arrears beyond Rs83 billion payable to Pepco. The government had sold Kesc for Rs16 billion cash and Rs4 billion of preferential shares only with the intention of improving the Kesc performance. Initially, Saudi Group, Kanooz al Watan had obtained its 73 percent shares along with management control, but the purchaser didn’t make any further investment for increasing the production capacity and improving the Kesc system. Instead with the installations of new meters, Kesc bills were enhanced by 70 to 100 percent and despite that payments to Pepco were not being made. Besides, during these four years, Kesc financial costs of bank loans have been increasing and the loans amount at the end of September 30, 2008 has surpassed Rs66 billion, while total loss of Kesc has reached up to Rs57.45 billion.

JI to hold demo against hike in power tariff

KARACHI: Naib Amir Jamaat-e-Islami (JI) Prof. Ghafoor Ahmed said Monday that Jamaat-e-Islami (JI) and other political parties would protest against increase in power tariff before the main office of the Karachi Electric Supply Corporation (KESC) on Wednesday.

He was speaking at the All Parties Conference (APC) held here at Idara Noor-ul-Haq.

Ahmed said that increase in power prices by Rs1.85 per unit has added the miseries of woes of people of metropolis.

Pakistan People Party (PPP), which considers herself to be the voice of people has no contact with the people, he noted.

He further said that the ruling party has turned its eyes from the grave problem of electricity loadshedding. JI Naib Amir called for government to immediately withdraw its decision about raise in power tariff.

On this occasion, APC presented a unanimous resolution seeking immediate end to the ongoing power crisis before the start of summer season.