Finance Minister promises to overhaul the power sector

Speaking at the event, the minister of finance explained that the reforms included restructuring the Discos’ boards of directors by adding experts from the private sector and reducing the number of government nominees. He said that doing this will improve the boards’ efficacy and the general caliber of services offered.

During a discussion with Mark Skelton, Chairman of the Board of Directors at K-Electric (KE), the minister said these things. Leading figures from the Finance Division were also in attendance, including CEO KE Moonis Alvi, Chief Regulatory Affairs KE Imran Qureshi, and Member Board of Directors KE Javed Kureishi and Mubasher H. Sheikh.

The goal of the discussion was to discuss how K-Electric intends to satisfy Karachi’s increasing energy needs and how it expects to switch to renewable energy sources to provide port city inhabitants with inexpensive and sustainable energy.

In an effort to bring down Karachi’s electricity costs, the KE team briefed the Minister on its intentions to incorporate renewable energy sources into its generation mix. They also informed the Minister about other steps KE is taking to provide better services to Karachi citizens.

In keeping with the Prime Minister’s goal of empowering and facilitating the private sector to drive the economy, he noted the commencement of the process of privatizing three discos and reaffirmed the government’s commitment to ensuring private sector participation in all government-owned discos and gencos.

The minister praised K-Electric’s efforts to expand its energy and distribution operations and make additional investments. He also pledged full support for the company’s attempts to switch to renewable energy sources and produce more inexpensive electricity using indigenous resources.