PM backs sale of K-Electric’s majority stake to Chinese firm

ISLAMABAD: Prime Minister Shahid Khaqan Abbasi has put his weight behind the sale of majority shareholding in K-Electric to Shanghai Electric Power of China with a warning that the power utility will be in dire straits if the deal falls through.

In this case, he voiced fear, the government would have to come up with bailout packages for the power producer.

The premier also wants the power-sector regulator to take early decision on a review petition filed by the Power Division for revising upwards the K-Electric’s tariff.

Published in The Express Tribune, 4th May, 2018