KARACHI - The Board of Directors of Karachi Electric Supply Company (KESC) Wednesday announced the appointment of Waqar H Siddique as the new chairman of KESC. He succeeds Abdulaziz Hamad Aljomaih who assumed the role upon privatisation of the formerly state-owned entity in November 2005. Siddique brings with him a twenty-five year career track record in finance, business operations and private equity both in Pakistan and across the ME North Africa South Asia (MENASA) region. He is currently an Executive Director at Abraaj Capital in the UAE, where he heads the companys Portfolio Management Group. A KESC spokesperson says, Siddique brings with him a wealth of business experience, including in Pakistan itself and has stewarded the success of a number of business enterprises across the region. He has a significant distress-turnaround experience and is a highly respected figure in business in the region. With the success of various enterprises and strategic investments, additionally, he is also committed Karachiite, being both born and bred in Karachi.