CCE meets to discuss KE transaction

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CCE meets to discuss KE transaction

ISLAMABAD, Dec 6 (APP): A high level meeting of the committee constituted by the Cabinet Committee on Energy (CCE) for discussion
on K-Electric Transaction was held under the chairmanship of
Minister for Water and Power Khawaja Muhammad Asif.

Shanghai Electric Power, new proposed shareholder of K- Electric, along with the management of KE presented their Business Plan worth $ 9 billion for improving and value adding in the KE power infrastructure including transmission, distribution and generation, a press release issued here said.

Shanghai Electric Power, one of the largest companies in power sector in China, also shared their profile and international expertise and similar experience.

The government appreciated and welcomed the investment and change of shareholder in K-Electric. The government also highlighted the need for K-Electric to synchronize their plans of investment to bring up the infrastructure and the generation facilities, with the overall national plan for minimizing and eliminating load shedding in the country by 2018.

The government ensures its support to the efforts for improvement in the quality and quantity of service to the consumers of K-Electric.

Minister for Petroleum and Natural Resources, Chairman Privatization Commission, Chairman Board of Investment also attended the meeting.

Senior high level representatives from of ministries of Water and Power, Petroleum & Natural Resources, Finance and Law and Justice Division also attended the meeting.