K-Electric stake sale: Delay in approval will hurt investor confidence says Abraaj founder

The federal government’s inability to give regulatory approvals to Shanghai Electric Power for taking over K-Electric would be a huge blow to Karachi’s future and cause a serious dent in investors’ confidence, said the Abraaj Group on Monday.

“The federal government is left with only 12 weeks in governance to complete this [K-Electric] deal,” said Abraaj in a statement as it stepped up lobbying to get the necessary approval. Abraaj Group founder Arif Naqvi met with government ministers on Monday.

Published in The Express Tribune, 13th March, 2018