April 17, 2008	Thursday	Rabi-us-Sani 10, 1429

KARACHI, April 16: The Karachi Electric Supply Company is submitting a short-term plan to the government next week for improved electricity supply during summer.

Privatisation Minister Naveed Qamar disclosed this to Dawn from Islamabad on telephone, which was confirmed by KESC chief executive Lt Gen (retd) S. M. Amjad here on Wednesday.

“We are not going to tinker with KESC privatisation transaction,” the minister replied in response to a question but revealed that the new investors had been asked in a meeting held early this month to give a short-term improvement plan in three weeks time.

“The federal water and power secretary held a meeting with us on Monday on this issue and we are preparing a plan to be given shortly,” the KESC chief executive said. He was confident that the current summer would not be as difficult as the last one.

“As against a minimum shortfall of 300 megawatt last summer, we expect a shortfall of 250MW in the current summer,” he said about the expected load management and distribution. He said the KESC was engaged in upgrading the systems with funds of Rs13 billion announced by the government before the privatisation and the investors were also putting some money in it. He disclosed that the KESC was taking up an energy conservation programme with the help of the government and the media as part of augmenting electric supply programme and cutting down on loadshedding time. He said that many relevant issues would be taken up by the board of directors in a meeting to be held late this month.

Responding to a question, the privatisation minister called Privatisation Ordinance, 2000, as a complete and comprehensive law, which does not warrant a review. “But, of course, we will improve the procedures,” he remarked to emphasise the point on making process more transparent. He said the procedure for appointment of a financial adviser of any entity would be made more transparent.

As for the controversial privatisation deals in last seven or eight years, Naveed Qamar said these would be taken up by the Public Accounts Committee of the National Assembly in the light of objections raised by the Auditor General. He announced that the privatisation board would soon be reconstituted.

Privatisation came to a virtual halt in 2008 and the only announcement came after February 18 elections and induction of the new government is about the invitation of expressions of interest to divest 93.88 per cent of shares of the SME Bank.