*ISLAMABAD: The government has decided to unveil a new plan to make theprivatization of the K-electric viable.*
The government has directed the KE to submit its record upto the June 30th,2018 to concerned authorities, according to the sources.
The power utility will also submit the record of receivables, recovery andpayments, sources said.
According to sources, the K-electric would also submit its record ofarrears and recoveries against Sui Southern Gas Company. The company willalso present its record of recovery and outstanding amount against thegovernment departments and state entities.
The company has been directed against keeping any of its record secret,sources further said.
All record of the company will be submitted to court and it will be thecourt’s discretion to take any decision itself or appoint an adjudicator todecide the matter, sources said.
Read Top Stories
According to the sources, 33 percent shares of K-electric will be sold toShanghai Electric Power under the new plan.
It is to be mentioned here that the Senate Standing Committee on PowerDivision was informed recently that liabilities were causing impediments inthe privatization of K-Electric to Shanghai Electric Power.
Power Division Secretary Irfan Ali briefed the Senate panel that publicdepartments and companies, including SSGC and the National Transmission andDespatch Company (NTDC) owed Rs 125bn to the power utility.
He said that KE owed Rs 90bn to Sui Southern Gas Company and Rs 35bn toNTDC.
