K-Electric clarifies no role in Pakistan’s circular debt

By MG News | April 18, 2025 at 12:05 PM GMT+05:00

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April 18, 2025 (MLN): K-Electric, as a privately-run utility, has no involvement in the country’s circular debt a position acknowledged by leading international institutions, a K-Electric spokesperson stated.

The utility emphasized that approving legitimate claims would bolster KE's cash flows, allowing the company to fast-track planned infrastructure enhancements and ensure a more reliable power supply to its customers.

The company remains in active discussions with the regulator on this matter.

KE, originally incorporated as KESC in 1913, was privatized in 2005 and has since become Pakistan’s sole vertically integrated power utility, providing electricity to Karachi and its surrounding areas.

The majority of KE’s shares (66.4%) are owned by KES Power, a consortium that includes Al-Jomaih Power Limited from Saudi Arabia, National Industries Group (Holding) from Kuwait, and the Infrastructure and Growth Capital Fund (IGCF).

The Government of Pakistan also holds a 24.36% stake in the company, with the remaining shares available in the free market.

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