KARACHI (Friday, May 13, 2011) : Second nationalisation of Karachi Electric Supply Corporation (KESC) is being materialised fast at the behest of the top personality of the country which will cost the national exchequer Rs 130 billion.
According to documents available with The News, Transparency International Pakistan (TIP) had informed the Supreme Court and ministries of privatisation, water and power that Abraj Company was President Asif Zardari’s front firm and it had been given such concession which would render irreparable loss to the national exchequer. The privatisation papers of KESC since 2005 have been kept secret under which the government would have to pay liabilities of KESC in case of nationalisation.
According to TIP, outages have been increased and 450 workers have been laid off. The demand for nationalisation is being voiced from these laid off employees. Instead of checking power theft, it is being promoted to increase losses to justify nationalisation.
(Published in “TheNews” on Saturday, May 14, 2011)