Federal Minister for Finance & Revenue Senator Muhammad Aurangzeb held a meeting with Mr. Mark Skelton, Chairman Board of Directors K-Electric, on Tuesday to exchange views around K-Electric’s plans for catering to growing energy demands of Karachi and the company’s transition to renewables to ensure affordable and sustainable energy for the residents of port city. Mr. Javed Kureishi, Member Board of Directors KE, Mr. Mubasher H. Sheikh, Member Board of Directors KE, Mr. Moonis Alvi, CEO KE, Mr. Imran Qureshi, Chief Regulatory Affairs KE, M. Aamir Ghaziani, CFO KE and senior officials of the Finance Division also attended the meeting. The KE team briefed the Minister regarding its plans to include renewable in its generation mix, with a view to lowering down the cost of electricity for Karachi. They also apprised the Minister of other initiatives being taken by KE for improved service delivery to residents of Karachi. The Minister recounted the structural reforms being undertaken in the power sector, including reconstitution of Boards of Directors of Discos by bringing in professionals from private sector and reducing the number of government nominees to bring in more efficiency in the boards and improve overall service delivery. He reiterated the government’s resolve to ensure private sector participation in all government-owned discos and gencos and mentioned the start of process of privatizing of three discos in line with the Prime Minister’s vision to enable and facilitate the private sector to lead the economy. The Minister also lauded the initiatives taken by K-Electric for further investment and expansion of its energy and distribution operations, and assured full support for its efforts to transition to renewables and production of cheaper and affordable energy through the use of domestic resources.
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