Pakistan Today

Govt tells SC it incurred losses while K-Electric reaped profits

The federal government on Monday told the Supreme Court that K-Electric owed Rs 130 billion to various government institutions, and after privatisation in 2008 it was given exceptional benefits.

The government submitted its response in the case pertaining to a petition by K-Electric against the Karachi Water & Sewerage Board (KWSB). In its reply, the federal government stated that since 2005, the concessions given to K-Electric have caused losses equaling Rs 269 billion to the government.

It went on to say that after 2009, the concessions given to K-Electric gave the power company profits of Rs 49.3 billion.

The government appealed to the court to reject the plea filed by K-Electric and fine it heavily.

SHC case:

Meanwhile, the Sindh High Court (SHC) sought assistance from the Deputy Attorney General and Advocate General in the case pertaining to the responsibility of the government as well as K-Electric regarding the heatwave deaths in Karachi.

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