Al-Abaraj buys 50pc KESC shares

KARACHI - The Al-Abaraj Group has purchased 50 per cent of KESC shares with a view to take management control of the utility company in Karachi.
The new Chief Executive Officer of the KESC, Naveed Ismail, had also taken the charge of the post on Tuesday. Sources said that with the arrival of new buyer and appointment of the new head of the company, the KESC is expected to perform better and give relief to the citizens in Karachi from the unscheduled loadshedding, especially after mid-night.
Sources said that the previous Chief Executive Officer Syed Amjad Hussain had left the KESC silently as he knew the change in company management.
Sources said that the previous buyer of the KESC could not produce a single watt of electricity as a result the power crisis deepened in the financial hub of the country due to ever-growing demand and shortfall in the production.
Meanwhile, loadshedding during summer is frequent and is causing great distress among the public. Two hours per day loadshedding has increased up to 4 or 6 hours daily that has become a major source of tension among the people. This has increased the distress among the citizens of all communities, especially the business community is suffering a lot.
Last year Governor Sindh Dr Ishratul Ibad strictly directed the KESC authorities not to resort to loadshedding after midnight, as a result the people felt a great relief. But during this summer season once again the KESC has been resorting to unscheduled loadshedding even after midnight, disrupting the sound sleep of the people as neither the provincial nor federal government is taking any serious notice of the power suspension.