KARACHI: Chief Executive Officer (CEO) of K-Electric Tayyab Tareen has said that the electricity loadshedding in Karachi was at its peak for last 10-years due to power generation issues in transmission lines and distribution of electricity; but to overcome the paucity of electricity, the K-Electric has invested $ 1 billion for power generation and up-gradation of distribution system, adding that another $ 2 billion would be invested in the next four years.
He expressed these views while addressing a luncheon meeting hosted in his honour by Korangi Association of Trade & Industry (KATI).
Patron-in-Chief KATI S M Muneer, President KATI Rashid Ahmed Siddiqui, Senator Abdul Haseeb Khan, Zubair Chhaya, Chairman Standing Committee K-Electric Najmul Arfeen, Abdul Sami Khan, Syed Farukh Mazhar, Johar Ali Qandhari, Ehtesham-ud-Din, Danish Khan, Zahid Saeed and others were also present on the occasion.
Speaking at the occasion, Tayyab Tareen said that at present 59 percent area of Karachi including four industrial zones are exempted from the loadshedding and by the year 2018 another 700 MW would be acquired from coal plant under the agreement with Chinese Company which would result in lowering of K-Electric tariff.
He further said that new circuits and ABC cabling would be installed in future from an investment of $400 million.
Tayyab Tareen further said that presently K-Electric is facing 23 percent line losses, where as the demand of electricity has been risen to 3000 MW in May and June, adding that the K-Electric is eager to increase its capacity and many new agreements are also being signed and discussions on LNG with Engro is also being carried out.
On the occasion, S M Muneer said that corporate culture has been introduced in K-Electric and issues of electricity have been being reduced adding that the distribution network of K-Electric is much better as compared to other cities of Pakistan.
The President KATI Rashid Ahmed Siddiqui said that the K-Electric is doing a good job under its Chief Executive Officer (CEO) Tayyab Tareen and soon we would see zero percent loadshedding in Karachi.
He further said that the Korangi industrial area at present is exempted from loadshedding, however, the industrialists are concerned due to water shortage, but the KWSB concerned authorities not yet paid any heed towards the redressal of prevailing issues.
