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Business & Finance

Work initiated to receive additional electricity from National Grid: KE

  • “Work has been initiated to receive additional power from National Grid upon confirmation last month,” said KE spokesperson.
  • Last month, the federal government has announced that it is ready to provide additional 500 MW from the National Grid.
04 Jul 2020

Karachi electricity provider, K-Electric has informed that the company has initiated work to receive additional power from National Grid.

“Work has been initiated to receive additional power from National Grid upon confirmation last month,” said KE spokesperson. Last month, the federal government has announced that it is ready to provide additional 500 MW from the National Grid.

The power utility provider added that the work for the 900MW power plant is already in progress for which the first unit will start generation from 2021.

In a letter to Governor of Sindh, KE has requested a meeting with all relevant stakeholders to discuss matters pertaining to power generation, its planning, and matters related to financial management.

ECC APPROVES RAISE IN KE TARIFF

The Economic Coordination Committee (ECC) of the cabinet on Thursday has allowed an average Rs 2.89 per unit increase in tariff to KE from July 1, 2020, and asked the Oil and Gas Regulatory Authority (OGRA) to evolve a mechanism for the recovery of Rs73.84 billion revenue shortfall suffered by the regulator due to supply of RLNG to domestic consumers in winters.

The ECC meeting presided over by Adviser to the Prime Minister on Finance and Revenue Dr Abdul Hafeez Shaikh discussed quarterly adjustments of K-Electric Limited for the period July 2016 to March 2019 and affirmed its previous decision of 26th March 2020 whereby recommendations of a Committee constituted by ECC in its meeting on 4th March 2020 to settle the issue of quarterly adjustments of the of K-Electric Limited for the period from July 2016 to March 2019 were approved with the instruction that the same would be effective after three months.