KESC privatisation challenged

A petition was filed in the Supreme Court Monday, challenging the privatisation of Karachi Electric Supply Company (KESC) with a plea to reverse the sale of the biggest power company since it failed to fulfil all the contractual obligations at the cost of the general public and the business community.
In November 2005, a total of 71 percent shares of the KESC were transferred to a consortium of the Saudi Al-Jomaih Group of Companies and Kuwait National Industries Group (NIG), with the government still retaining 26 per cent stake. Syed Mehmood Akhtar Naqvi, a social worker and vice-chairman of the United Human Rights Commission of Pakistan, filed the petition.