Different meetings have been held between K-Electric officials and important government representatives regarding acquisition of K-Electric.
Different economists and experts have agreed that K-Electric acquisition is a healthy sign and the acquisition by Shanghai Electric Power and $9 billion investment plan would benefit power sector in Pakistan.
K-Electric Chief Executive Officer (CEO) Moonis Alvi in an interview said, “Once completed, this transaction will strengthen Pakistan’s potential as a welcome investment destination.”
He said that government has prioritized the sale of K-Electric as
“it is mindful of the fact that Pakistan cannot afford to lose such an exciting opportunity”.
Alvi stated that the economy of Pakistan is unstable and the government is tying to overcome the balance of payments crisis
He said, “In such a scenario, Shanghai Electric Power’s interest in acquiring a 66.4pc stake in KE and to invest $9 billion in the next years is a positive omen and could be the forerunner to multiple windfall benefits in the years to come and serve as a springboard to other investors.”
Basically Shanghai Electric Power is State Power Investment Corporation’s subsidiary. 30,000 megawatts electricity is supplied by SEP to Shanghai.
Alvi said, “The government has expressed confidence in the proposed deal based on the transformational impact it is expected to have on Karachi as well as Pakistan’s overall power sector.”