ISLAMABAD: The Board of Directors of Karachi Electric is holding an extraordinary meeting on Monday (today) to take a decision about the future of power utility.
Well informed sources told Business Recorder that the proposal to take over KE was also under active consideration but policymakers will not take any decision in haste which could affect future privatisation plan.
The sources said, the Board, however, will finalise plan to implement directions of Supreme Court of Pakistan.
With speculations that the GoP would takeover KE, the latter's plan to get loans from commercial banks would be affected, the sources added.
A webinar is also expected between KE Management and Chairman National Electric Power Regulatory Authority (Nepra) on Monday to discuss future line of action. Minister for Power Omar Ayub will also join the webinar.
Nepra has recently imposed a fine of Rs 200 million on KE for massive unscheduled loading shedding and rains related incidents. However, notifications of quarterly tariff adjustments and monthly fuel adjustments have not been implemented due to political reasons and Covid-19.
Nepra was also in action against KE for alleged violations of its licence and may take strict action in few weeks.
Copyright Business Recorder, 2020
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