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11 February 2005
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Friday
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01 Muharram 1426
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Clarification
KARACHI, Feb 10: In a press release issued here on Thursday, Siemens Pakistan Engineering Co. Limited has said the firm has no equity in the KESC and the impression created by some reports that it is part owner is not based on facts.
The fact, the press release says, is that Siemens is exclusive no-stock holding technical partner to Kanooz Al Watan Holding Group. This Saudi group has acquired the KESC through a bid and is the sole new owner of this utility. Siemens as a technical partner will limit its contribution to technical aspects of the improvement of KESC as and when required to do so by Kanooz Al Watan.
Original Story: Opposition demands KESC sale reversed
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