KE unveils investment roadmap at PSX briefing

KARACHI: K-Electric (KE), Pakistan’s only vertically integrated electric utility, reiterated its commitment to dependable and sustainable energy at its corporate briefing session held at the Pakistan Stock Exchange (PSX).

During the session, Muhammad Aamir Ghaziani, the Chief Financial Officer of K-Electric, presented the company’s $2 billion investment roadmap, which aims to modernise Karachi’s power infrastructure by 2030.

Muhammad Aamir Ghaziani emphasized that the approval of the Multi-Year Tariff (MYT) for FY24–FY30 will allow important investments in infrastructure, thereby ensuring a stable and efficient energy supply.

K-Electric also outlined its ambitious renewable energy objectives, targeting an addition of 30% renewable energy into its generation mix by 2030.

The company completed competitive bidding for 640 MW of renewable projects, which includes a 220 MW hybrid solar-wind project at Dhabeji that was awarded at a record-low tariff of PKR 8.92/kWh.

Since its privatisation in 2005, K-Electric has invested over $4.6 billion in infrastructure, resulting in significant enhancements in transmission and distribution capacity.

The company reported a 13.5 percentage-point decrease in aggregate technical and commercial (AT&C) losses and assured stakeholders that the approved utility tariff will not affect consumer electricity rates.

K-Electric also addressed concerns regarding local gas shortages influencing tariffs and clarified that it bears no responsibility for the country’s circular debt.

This briefing underscores K-Electric’s commitment to sustainable energy solutions and operational efficiency, reinforcing its vital role in Pakistan’s evolving energy landscape.

The federal government has asked the National Electric Power Regulatory Authority (NEPRA) for a revision of K-Electric’s tariff, ARY News reported.

Federal Energy Minister Awais Leghari, in a statement, said that Pakistan’s power sector cannot afford to bear the inefficiencies of any private or public company, nor can it sustain tariff hikes to mask such shortcomings.

“Our revision request is responsible and aimed at fostering a sustainable and healthy environment in the electricity distribution system,” the minister said.