Islamabad: Federal Minister for Finance & Revenue, Senator Muhammad Aurangzeb, engaged in a pivotal meeting with Mr. Mark Skelton, Chairman of the Board of Directors at K-Electric, to discuss the power company’s future plans. These plans include addressing the increasing energy demands of Karachi and shifting towards renewable energy sources to provide sustainable and cost-effective electricity to the city’s residents.
According to Press Information Department, the discussion also involved other key members from K-Electric including Mr. Javed Kureishi and Mr. Mubasher H. Sheikh from the Board of Directors, Mr. Moonis Alvi, CEO, Mr. Imran Qureshi, Chief of Regulatory Affairs, and Mr. Aamir Ghaziani, CFO. The meeting highlighted K-Electric’s strategy to incorporate renewable energy into its generation mix as a means to reduce electricity costs. The team also outlined other enhancements aimed at improving service delivery for Karachi residents.
The Minister outlined the ongoing structural reforms within the broader power sector, which include the reconstitution of Boards of Directors for Distribution Companies (Discos) by integrating private sector professionals and reducing government representation to enhance efficiency and service quality. He emphasized the government’s commitment to increasing private sector involvement in all state-owned Discos and Generation Companies (Gencos), and noted the commencement of privatizing three Discos, aligning with the Prime Minister’s vision of empowering the private sector to drive economic growth.
Furthermore, Senator Aurangzeb commended K-Electric for its efforts and investments in expanding its energy production and distribution capabilities. He assured full governmental support for K-Electric’s transition towards renewable energy sources and the production of more affordable energy through domestic resources.