ISLAMABAD, May 31: At the request of potential investors, the deadline for submission of Statements of Qualification (SoQs) for KESC privatization has been extended from May 31 to June 24, 2002.

According to a handout issued here on Friday, Privatization Commission has invited qualified investors or consortia of strategic/financial investors interested in acquiring a 51 per cent to 74 per cent interest in Karachi Electric Supply Corporation (KESC) and assuming management control, to submit their Expressions of Interest (EoI) along with a brief profile of the potential investors. KESC is the vertically integrated electric utility supplying power to the city of Karachi, Pakistan‘s largest industrial and commercial centre. Furthermore, it supplies power to the industrial parts of Thatta and the Lasbella district. In total, the KESC franchise area covers approximately 6000 square kilometres, with a population in excess of 12 million.

Through privatization, GOP intends to substantially improve the reliability of electricity supply and customer service and to encourage private sector investment in the sector.