KE's Investors Acknowledge Pakistan's Importance As Investment Destination.

KARACHI -- A delegation of K-Electric's majority holders representing Saudi Arabia's Aljomaih Holding Company, Kuwait's National Industries Group (NIG) and Infrastructure Growth and Capital Fund (IGCF) called upon Prime Minister Mian Shehbaz Sharif the other day.

Delegation was led by Sheikh Abdulaziz Aljomaih: Managing Director of Aljomaih Holding Company, one of the strongest conglomerates in Saudi Arabia with interests in diversified industries along with Riyadh Edrees: CEO of NIG.

Prime Minister Shehbaz Sharif highlighted that he has constituted a task force headed by former Prime Minister Shahid Khaqan Abbasi to resolve the concerns related to K-Electric for improving the power utility's cash flows and streaming generation of electricity from its power plants. Task force members including Shahid Khaqan Abbasi, Federal Minister for Finance, Miftah Ismail, Minister for Petroleum Dr. Musadiq Malik, and Special Assistant to Prime Minister Ahad Cheema were also present.

The delegation briefed the premier about the utility's achievement in the last 17 years. 'We enjoy good brotherly relations with Pakistan. This is why we opted to invest in the power sector: which is the backbone of any economy: of Karachi, which holds a special place as Pakistan's financial and industrial hub,' highlighted Aljomaih who was also the first Chairman of the company post privatization.

'Aljomaih and I have been part of the KE journey since 2005. As part of the largest investment group of Kuwait, we are ambassadors of Pakistan in investment circles across the GCC. KE's continued success can be instrumental in generating interest in Pakistan's energy distribution sector,' d Riyadh Edrees.

Post-privatization, over USD 4 billion has been invested in KE's value chain, enabling it to upgrade the power infrastructure including addition of new power plants. The operational improvements since privatization have resulted in savings of USD 5 billon to the national exchequer. Today, the company has doubled the number of customers, delivers twice the amount of...