Daily Times

Chief Justice of Pakistan (CJP) Umar Ata Bandial said on Monday that the top court would not interfere in economic matters as it did not have the required ‘expertise’ as a bench heard a case related to K-Electric’s (KE) privatization.

Justice Bandial advised the petitioner’s lawyer, Rashid Rizvi, to approach the concerned high court in the matter. He highlighted, however, that the Parliament made two laws related to clause 3 of Article 184 – which state that for the court to have original jurisdiction on an issue, it first needs to be of public importance and must involve a violation of fundamental rights enshrined within the Constitution. The chief justice also questioned if old cases were scheduled for hearings so the issue could be observed ‘live’. Advocate Salahuddin mentioned that an application had emerged against the KSC Labour Union, however, Justice Ayesha Malik stated that the matter was not before the court at the present time.

The petitioner’s lawyer argued that the hearing should be adjourned till next week. Justice Bandial maintained that the court would be on holiday from next week and judges would not be available. The CJP instructed the lawyer to receive instructions before the next hearing. The court highlighted that it had been eighteen years since the privatization of the power utility.

The hearing of the case was adjourned till Tuesday (today).

The company formerly known as Karachi Electric Supply Corporation (KESC) was privatised in 2005 for a sum of Rs16 billion to a Saudi-Kuwaiti group. In those days, the US dollar was valued at Rs59.75 in the inter-bank market. Going by those rates, the company was privatised for $270 million. The general perception was that privatisation will improve the financial condition of the company. In 2009, the company was sold to private equity firm Abraj Group with management control for Rs361 million.