Mr.
Yundan Wang, Chairman, Shanghai Electric Power Company (SEPC), senior
representatives of Abraj Group and Karachi Electric along with their respective
delegations called on Mr. Daniyal Aziz, Minister for Privatisation, today.
Matters concerning the transition of Karachi Electric to the new prospective
Company came under discussion specifically the processing of NOC for the
transaction.
The SEPC delegation briefed the
Minister about their investment plan to revitalize Karachi Electric. Chairman
Yundan indicated their plan to invest $9.0 billion in KE by 2030 to upgrade the
transmission and generation capacity of KE. He hoped that their plan would
change the prospects and perspectives of KES as a service provider in the Power
Sector. Chairman Yundan told that SEPC is responsible for generating one third
of world’s power and they intend to replicate their successful experiences in
Karachi as well. The Minister also appreciated KE’s performance in the previous
years that could bring apparent changes in the system and
hoped that collaboration with SEPC will help in improving the KE System.
Chairman Yundan described to the
Minister of the Privatisation Commission the innovative plans of SEPC to
introduce new technology to generate new electricity including from renewable
sources. He explained that different sites are being identified to kick start
the projects that will supplement generation of KES along with traditional
sources. He also briefed the Minister about his plans to stop leakages but
emphasized that socio-economic development of the target areas can play a major
role in changing attitudes and in improving governance as well as recoveries.
He also shared that KE will also continue to extend electricity to designated
hospitals as their social responsibility. It was also shared that Special
Emergency Generation Vehicle to restore electricity in the wake of crises will
also be made available to ensure non-stop provision of electricity in Karachi.
The meeting ended with a note of
thanks from the Minister for Privatisation with the hope to continue
collaboration in joint ventures.
