KARACHI: The K-Electric has refuted the reports of having illegal gas connections, terming them false and defamatory allegations.
K-Electric, in an official statement, said that it is a publicly listed company and operates in strict compliance with national laws and regulations and adheres to the highest standards of ethics and corporate governance.
Referring to the allegations, a spokesperson from K-Electric reiterated that the company has no affiliation to any political person or political party. It maintains a zero tolerance policy towards corruption and nepotism.
The spokesperson further added that K-Electric has been making regular payments to SSGC and has paid over Rs217 billion to SSGC since 2009. Moreover, payments of around Rs 8 billion have been made in excess by K-Electric in terms of arrears. Despite fulfilling its payment obligations, only 168 MMCFD gas was being provided on average to K-Electric between the years of 2010 and 2015, against a quota of 276 MMCFD for its five power plants.
The K-Electric has substantial amount of receivables Rs109 billion from government entities including KWSB’s outstanding amount of Rs40 billion.
