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.
As long as corrupt bureaucrats go unpunished along with equally corrupt political public office holders, these one sided agreements to the disadvantage of the Pakistani state will continue to occur. Problem is not with privatisation, but with corruption. Even if K Electric were to be run by the government, these losses would still occur because of massive pi,forage and corruption.
Comments are closed.