ISLAMABAD: Finance Minister Senator Muhammad Aurangzeb has convened another meeting on Thursday (Apr 10) to review the unresolved issues concerning K-Electric, which are under active consideration by the Special Investment Facilitation Council (SIFC) and the Task Force on Power, well-informed sources told Business Recorder.
According to a notice issued by the SIFC Secretariat, the high-level panel will discuss updates on the following agenda items:
(i) generation tariff;
(ii) transmission, distribution and supply tariff;
(iii) KE’s write claims of Rs68 billion which have already been increased to Rs 76 billion;
(iv) KE’s shareholding dispute between Saudi Company Al-Jomaih and Pakistan Company M/s Asia Pak of Shehryar Chishti; and
(v) Mediation Agreement with Government Departments by Ashtar Ausaf.
The meeting will be attended by the Minister for Power, Sardar Awais Leghari; PM Advisor on Privatisation, Muhammad Ali; National Coordinator of the Power Task Force, Lt General Zafar Iqbal; National Coordinator of SIFC, Lt General Sarfraz Ahmad; Secretary Finance; Secretary Power; Secretary Law; Chief Secretary of Sindh (via Zoom); chairman SECP; chairman Nepra; along with all relevant members, Director General of SIFC, Chief of Staff of SIFC, JS(Mil) Projects SIFC, and Director (Mil) Power SIFC.
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Sources said that during the last meeting held in January 2025, the committee had directed the concerned organisations and departments to resolve all pending issues within a month. However, progress has not been as expected.
The upcoming meeting will address the bottlenecks that are still hindering progress on the pending issues, as these are key concerns for Al-Jomaih, which enjoys full backing from Riyadh. These issues have consistently been part of official deliberations.
Regarding the shareholding dispute, both parties are influential, and their backing by powerful quarters is one reason SECP has not moved forward without formal direction from Q Block.
Sources mentioned that Saudi investors have been assured that all pending matters will be resolved by the end of the current month. Concerning the release of pending tariff determinations, it is expected that one of the key issues will be resolved in today’s meeting at Q Block.
The federal government has already approved a mediation mechanism between K-Electric and the Sindh government to reconcile outstanding dues worth billions of rupees owed to CPPA-G and NTDC.
Copyright Business Recorder, 2025
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