Smooth transfer of KESC management to buyer ensured

Water and Power Minister Liaquat Ali Jatoi has said that the government will ensure smooth transfer of management of Karachi Electric Supply Corporation (KESC) to its buyer. He was talking to newsmen at the camp office here on Saturday. "We will ensure smooth transfer of KESC from public sector to private sector," the minister said in a reply to a question and added that Saudi company Kanooz Al-Watan has a time till March 20 to pay the bid amount to the Privatisation Commission.
He maintained that transfer of management of KESC to the private sector would improve its performance and will greatly benefit the consumers.
The minister while lauding the performance of KESC Managing Director Brig Tariq Saddozai said that his services were remarkable for preparing the entity for successful privatisation.
He said that an American company M/s AES has indicated willingness in setting up 1,000 megawatts coal-fired power generation plant costing one billion dollars in Thar. Similarly, two more international firms including Brazil Energy Company has shown interest in setting up power plants in the area.
Referring to his road shows in London and Dubai, the minister said that the government was now expecting a foreign investment of 1.3 billion dollars in power sector for producing 1,300 megawatts of electricity.
Jatoi said that the reforms in power sector have simplified the procedures and time period has been reduced for sanctioning under one window operation.
He pointed out that 14 independent power producers were generating 6,000 megawatts of electricity in the country. He said more steps would be taken to further improve the reform package for achieving better results and create more friendly environment for investors.
He said that encouraging response has been received on government policies and the consistency in the policies.
To a question, he said that there was no shortage in hydel power generation and due to good rains this year, the country has a surplus of 2,000 megawatts and a reserve of 2.3 million acres feet of water in dams.
To another question, Jatoi said that the demand in power sector was growing at 10 to 12 percent per annum in the country. He maintained that there will be no load shedding in the country.