The National Assembly was informed on Wednesday that all major obligations under the privatization agreement of K-Electric had been fulfilled, while the company was committed to investing $2 billion by 2030 to further strengthen the power infrastructure.
Responding to a question during the Question Hour, Parliamentary Secretary for Power Amir Talal Gopang said that under the privatization agreement, K-Electric was currently receiving 2,000 megawatts of electricity from the national grid.
He said the provision of electricity from the national grid was aimed at ensuring the supply of comparatively cheaper electricity to consumers in Karachi and other areas served by K-Electric.
The parliamentary secretary further informed the House that K-Electric had undertaken to invest $2 billion by 2030 as part of its long-term development and expansion plans.
Replying to another question, he said the government would examine the issues raised by members regarding the power sector and take appropriate measures where required.
Answering a question by Hafeezuddin, Amir Talal Gopang said the privatization agreement with K-Electric was signed in 2005 and included a commitment by the company to add 1,000 megawatts of electricity generation capacity.
He told the House that K-Electric had fulfilled all clauses of the agreement and completed its obligations under the privatization framework.
The parliamentary secretary reiterated the government’s commitment to ensuring reliable and affordable electricity supply while facilitating investment in the energy sector.