Terms of MoU with NIP for energization of BQIP not yet fulfilled: KE.

KARACHI -- In response to a query, K-Electric shared that while it continues to remain committed to energizing Bin Qasim Industrial Park (BQIP), the terms and conditions stipulated in the Memorandum of Understanding (MoU) signed with National Industrial Parks Development and Management Company (NIP) in February this year have still not been fulfilled. Under the MoU, KE was to receive PKR 500 million to initiate construction of a 64 MW grid at the designated "zero point" at BQIP along with a portion of costs that four business operating in the zone had volunteered to pay. As clearly mentioned in the MoU, energization of urgently needed 11KV feeders of the four zone enterprises is subject to the receipt of both these payments. It is pertinent to note that the load requirements of special economic zone have a minimum requirement of a grid for safe evacuation of power as mandated by NEPRA regulations and it is the developer's responsibility to construct a grid to enable utility to provide electricity. However, no grid has been constructed by NIP in the facility.

NIP had further indicated in February, that the responsibility to fund the grid lies with Federal Government and that NIP shall...