Karachi Electric Supply Corporation
Logo of K-Electric
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| Public | |
| Traded as | : KEL |
| Industry | Electricity Generation, Transmission and Distribution (installed capacity 2,262 MW) |
| Founded | September 1913 |
| Headquarters | KE House, 39-B, Sunset Boulevard, Phase-II, Defence Housing Authority, Karachi, Pakistan |
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Area served
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Karachi, Pakistan |
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Key people
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| Revenue |
 PKR 190.358 billion (2014-15) |
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PKR 28.324 billion |
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| Total assets | PKR 367.56 billion |
| Owner | ABRAAJ GROUP (through KES POWER) & The Government of Pakistan |
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Number of employees
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over 10, 962 (As of 31 Dec. 2012) |
| Website | www.ke.com.pk |
K-Electric (also known as KE) is a Pakistani vertically integrated electric-energy corporation involved in generating, transmitting, and distributing electrical power to over 23 million inhabitants of Karachi, Sindh, Pakistan. It employs over 11,000 people and covers an area of 6,500 square kilometers with industrial, commercial, agricultural and residential areas falling under its network.
On 13 September 1913 Karachi Electric Supply Corporation (KESC) was incorporated under the now repealed Indian Companies Act, 1882 (currently Companies Ordinance, 1984). In 1952, the Government of Pakistan took control of the Company by acquiring majority shareholding of KESC. In 2005, the Government privatised K-Electric. In 2009, The Abraaj Capital, a leading private equity firm based in Dubai, bought the power utility for a significant equity stake in the company.
Abraaj Group fully controls KE via the holding company, KES Power Limited which holds 72.58% of its shares. The company is in process of being taken-over by Shanghai Electric for $1.77 billion.
A century ago a company was formed to serve the power needs of a small port town.
The power needs of the country increased following independence phenomenal population growth and unplanned geographic expansion. Today, it represents a very complicated power utility system that energizes lives of over 23 million people; spread over 6,500 square km across Karachi & its adjoining areas such as ‘Uthal, Bela & Vinder’.
The Government of Pakistan (GoP) took control of the Company by acquiring majority shareholding of KE.
KE was a profit making utility but due to lack of vision, resource management, corruption, false practices, negligence, ignorance, political influence etc., it started to weaken the company rapidly.
In the 1970s and 1980s, Pakistan suffered from intense power shortages, which led subsequent governments to realize that a serious power crisis was in the offing. With a view towards encouraging private investment in the country’s power sector, the Government of Pakistan started off by providing lucrative incentives to foreign investors through various policies, first of which was initiated in 1994. Through the 1994 Power Policy, establishment of Independent Power Producers (IPPs) was encouraged to provide Pakistan with much-needed investment in the power industry.
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Wikipedia