ISLAMABAD - Former minister for power and senior leader of PML-N Khawaja Muhammad Asif has claimed that a deal to take over by China’s Shanghai Electric Ltd is lingering due to alleged pressure from Americans.
He was expressing his views in the meeting of Public Accounts Committee, which was held under the chair of MNA Rana Tanveer Hussain here yesterday at the Parliament House.
The audit pointed out that billions of rupees are still recoverable from the consumers. During the meeting, at a point when issues related to K-Electric were being discussed, Khawaja Asif said there is only one solution that the company is given to Shanghai Electric to run its operations.
He further said but the transaction is lingering just because of American pressure. He said the ‘supper power’ doesn’t want to give control of K-Electric in the hands of a Chinese company. He said, however, if we want to resolve the problems of Karachi, the company should be given to the Chinese company immediately.
While responding to a question asked by Khawaja Asif, the Secretary Power Division informed the meeting that the Shanghai Electric’s offer is still intact but it is delayed due to longstanding issues of payables and receivables of K-Electric with Sui Southern Gas Company Limited and others.
It is pertinent to mention here that Karachi Electric Supply Company was given to Saudi Arabia’s Al-Jomaiah group in 2005. In March this year, Aljomaih Holdings’ Managing Director Investments Abdulaziz Hamad Aljomaih visited Pakistan and met with top leadership of Pakistan including Prime Minister Imran Khan in which he requested early resolution of payables and receivables of K-Electric (KE) and urged the government and public sector entities to facilitate the power utility’s takeover by China’s Shanghai Electric Ltd. When this scribe questioned Khawaja after the meeting that why he is considering Shanghai Electric as the only solution of the problems of K-Electric, he said this is because of financial health and previous history of the company. He said in his view with a heavy investment and required expertise, the K-Electric can be run efficiently and Shanghai Electric has the required capacity. Chairman PAC Rana Tanveer Hussain directed the Secretary Power to resolve the longstanding issues of K-Electric for a smooth transaction.
He also directed to provide area wise brake up of the outstanding dues against domestic, commercial and public sector entities.
He also sought a briefing from Finance Ministry to find out a way forward to end the issue of circular debt once for all and called Secretary Finance along all relevant officers in next meeting.
