Karachi: Karachi Electric Supply Company has strongly condemned the negative propaganda by vested interest groups at a time when the company is showing consistent progress across every aspect of the business.
The efficiency of the company has improved significantly over the last couple of years that is reflected in its operating results. KESC’s new flagship 560 megawatt Bin Qasim Power Station 2 will soon be added to its generation fleet with a huge investment of 450 million dollars and declared that it would further improve the company’s performance and would be a significant step towards a financial and operational turnaround.
In this scenario, some subjective conspirators with unhealthy mindset could not spoil the remarkable achievements of KESC during the past three years. The management is well aware of such vested interest groups whose anti-change and pro status quo stance has failed to influence the transformation journey at KESC.
Referring to a statement carried by a section of media on Friday, KESC said that it had already stopped buying electricity from M/S Agriko for after expiration of the contract term but media had carried this ill-informed statement without confirmation.
KESC further said that the consumer tariff differential subsidy that the government paid through all power distribution companies was only to keep the consumer end tariff to affordable level for electricity consumers and it did not benefit KESC or any other distribution company as it is a pass-through item aimed at the end consumer.
The tariff differential subsidy has increased across the board as cost of generation has witnessed sharp rise during the last few years. However, media had highlighted this untrue and unverified assertion without substance.
KESC said that the management’s continued efforts to bring down financial losses, through its multi-dimensional and dynamic turnaround agenda, had resulted in marked improvements this year.
The addition of highly efficient 450 megawatts generation capacity during the last couple of years had been a major contributor towards this improved performance. Any claims to the contrary were wrong and baseless.
For more information, contact:
Assistant Manager, Media and PR
Karachi Electric Supply Company Limited (KESC)
2nd Floor, State Life Building No 11, Abdullah Haroon Road, Saddar, Karachi
Tel: +9221 9920 7163
Cell: +92346 822 3641