KARACHI, Oct 13: Business and industry leaders have demanded immediate de-privatisation of the Karachi Electric Supply Corporation (KESC). They were of the view that the power utility’s privatisation was non-transparent.

A meeting of the Federation of Pakistan Chambers of Commerce and Industry (FPCCI) was convened on Monday to approve measures suggested against the increase in power tariff. Earlier, various proposals were made at a representative meeting of 17 trade and industrial estates of the city held at the Korangi Association of Trade and Industry (KATI) office on Saturday last.

It was resolved at the FPCCI meeting that the industry would defy new power tariffs notified by the Ministry of Water and Power for KESC.

The meeting was jointly chaired by FPCCI vice president Zubair Tufail and S M Muneer, former president of FPCCI.

A large number of business and industry leaders, who attended the meeting, were critical of the performance of the KESC under its new management.

As enhanced power tariffs have been approved by Nepra without taking into confidence or hearing stakeholders, the industry leaders termed them unjust and illegal.

It was resolved that business and industry would continue to pay their power bills at old rates, as suggested in the KATI’s representative meeting.

The FPCCI would be issuing guidelines, suggesting how to pay power bills at old tariffs and through pay orders, to be submitted with respective trade and industrial bodies for onward submission to the utility company.

In the meantime, business leaders appealed to the prime minister to help sort out the issue and still such time the increase in power rates should be held in abeyance.

Business and industry leaders demanded that all agreements made with previous and present private sector managements of the KESC be made public.

The Saudi-based company, which was handed over the KESC had reportedly promised to invest $500 million in power generation, but they did not fulfill their commitment, they added.

Similarly, the new management is showing no different attitude, and perks and pay of the CEO of the KESC are said to be over $55,000 per month whereas power tariffs are being enhanced to cover such costs.

The management failed to check line losses up to 40 per cent and theft up to 14 per cent, they added.

The business community demanded of the government to induct the FPCCI representatives on the boards of Nepra and Ogra, and decisions should be approved without their consent.

These leaders were unanimous in their demand that the government should immediately take back the KESC and they are ready to help the government to raise funds to pay back the amount to the Al-Baraj of the UAE.