The new management of Karachi Electric Supply Corporation (KESC) would certainly overcome the menace of electricity pilferage by introducing modern technology.
The efficient running of private management would build a momentum for onward proficient running of other organisations including Wapda, he said.
Minister for privatisation and investment Dr Abdul Hafeez Sheikh told PTV that KESC employees would be offered certain incentives including bonus for reducing the line losses.
"In KESC privatisation the interests of the consumers have been protected. It would help improving overall performance of Wapda," he said.
The government has earned Rs 20.2 billion through KESC privatisation, he said and added that Rs 16 billion would be collected through 'proceeds'.
Additionally the Consortium would inject Rs 4.3 billion for improving the efficiency and performance of the KESC, he added.
The new management of KESC would not be able to increase electricity tariff for many years without any solid reason, he said.
Besides, 10 percent shares had been offered to the KESC employees. Their salaries had also been enhanced substantially, he added.
"A tariff formula (to be effective for seven years) have been devised in collaboration with Nepra. Tariff could only be increased in case of extra ordinary increase in the input prices," he added.