Reports of a few violent protests emerged in parts of the city on Thursday against K-Electric in which staff and properties of the company were badly damaged. As a result, the power utility suffered severe losses in its offices in Korangi, Landhi, and Malir, among others. Due to severe damage caused to K-Electric’s IBCs in Landhi and Korangi in particular, both shall remain temporarily closed.
Warning about stern action against violent attacks, KE Spokesperson said, “While we respect citizens’ right to peaceful protest, some miscreants are using it as an opportunity to instigate violence and create a law and order situation in the city. On Thursday, severe damage was caused to our customer-facing offices, and our staff members were tortured, which will not be taken lightly. As many as 5 FIRs have been lodged by KE and CCTV footages have been shared with the law enforcement authorities for identification of the lawbreakers. We have also established contact with the Commissioner Karachi who has assured us of all possible legal cooperation to safeguard KE’s properties and staff. We would like to assure that the negative elements causing riots and vandalism will be dealt strictly according to the law.”
The Spokesperson further added, “It is critical to understand that any change in the price of electricity is made at the level of the Government of Pakistan and the NEPRA Authority in line with relevant laws of the country, all the power distribution companies of Pakistan including K-Electric execute those decisions. The changing geopolitical and economic circumstances have resulted in a hike in the cost of electricity, which is beyond K-Electric’s control. Amid the ongoing situation, the power shortfall continues to persist 24/7, and as a result, we are compelled to conduct loadshed to manage any gaps. Where it is possible for the company and when shortfall shrinks, KE also passes the relief to the customers instantly.”
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 Kilometre 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.