Islamabad, April 28 (IANS) Residents in Karachi held a protest against prolonged, unannounced power outages lasting up to 16 hours daily, resulting in severe traffic congestion in the city’s business district for hours, local media reported on Tuesday. The protests on Monday impacted vehicular movement on the I.I. Chundrigar Road, Ziauddin Ahmed Road and nearby areas for over two hours, with roads in nearby areas, including Saddar and Pakistan Chowk, clogged and commuters facing difficulty und…
Latest K-Electric News & Updates
New Delhi, Jan 22 (IANS) Saudi and Kuwaiti investors holding a 30.7 per cent indirect stake in Karachi-based power utility K‑Electric have filed a $2 billion international arbitration claim against Pakistan, alleging regulatory interference and unpaid government dues, a report has said.The investors also alleged prolonged blocking of a $1.77 billion sale of the country’s largest private power utility, according to a report from Profit by Pakistan Today.The arbitration case lodged on January …
New Delhi, Jan 15 (IANS) Poor governance and mismanagement due to political interference are leading to huge losses in Pakistan’s state-owned enterprises, after which they are put up for distress sale at throwaway prices, a Pakistani media report said.An article in Pakistan’s Express Tribune points out that instead of reforming governance early, successive governments postpone difficult decisions. State-owned enterprises are routinely retained despite declining performance, political interfe…