ISLAMABAD - Karachi Electric Supply Company (KESC) would invest $500 million for setting up of coal-based power plants, improvement in the transmission and distribution system in Karachi during next five years.

In a statement water and power ministry said that Tabish Gohar, Chairmnan Board of Directors of KESC has said this while talking to Minister for Water and Power, Ch Ahmed Mukhtar. Gohar called on the Minister along with a five-member delegation include CEO, Syed Nayyar Hussain, Chief Strategy Officer, KESC Islamabad Head Khalid Rehman, Director Government Relations Sajjad Shahani and others. The meeting was also attended by Special Secretary Ministry of Water and Power, Hamayat Ullah Khan and Joint Secretary Power, Zergham Ishaq Khan.

The Minister appreciated the business plan of KESC and asked to utilise all the resources to provide uninterrupted power supply to consumers. Karachi is business hub and lifeline of country’s economy so that the industrial community should get cheaper and uninterrupted power supply.

He also asked KESC to generate maximum power from its plants to meet power needs of the city. Steps should also be taken to generate cheaper power, he added.

Earlier, Gohar told the Minister that Bin Qasim power plant would be converted on coal (imported and local) to generate 400MW cheaper electricity with an investment of $300 million. The conversion plan would take place 18 to 20 months.

He said that $80 million would be spent on conversion of gas based plants on combined cycle while $80 million on smart grid stations.

 He said that due to investment plan, the power system in Karachi would improve, power theft control and line losses would decrease. He also briefed the minister on the outsourcing of some of its feeders and future plans to meet electricity requirements. He also thanked Minister for his cooperation and to encourage for investment in the power sector.