Labour union of Karachi Electric Supply Corporation rebutting the statement of Privatisation Commission on Friday contended that PC kept the union and the Sindh High Court in dark about the exact terms and conditions regarding the sale of KESC to reconstituted Hasan Associates.
In rejoinder affidavit, filed before SHC's division bench comprising Justice Anwar Zaheer Jamali and Justice Mrs Yasmin Abbasey, hearing the matter against sale of KESC, labour union Chairman Akhlaq Khan prayed to the court to decide fairness and rationality of the PC's action in privatisation process.
PC deliberately failed to furnish copies of final agreement or produce any documents regarding alleged competence and qualification of the successful bidder, he said.
He termed bidding process collusive and non-transparent. Privatisation of KESC at this juncture was irrational and arbitrary, he said submitting there was no decision of Council of Common Interests in respect of recent proceeding. Respondents could not place minutes of CCI meeting before the court, he added.
He accused the Privatisation Commission of reducing entire bidding process for vital national asset into farce and disposed of KESC in private deal behind closed doors.
It was submitted in 93rd annual report of KESC that financial status of KESC is improving and subsidies provided by the government are decreasing and KESC is expected to become a profit making entity by 2007.
He said unless petition granted it would defeat public interest and 20,000 employees of KESC could be seriously prejudiced.
The privatisation of KESC was challenged by KESC labour union leaders Ziaur Rehman, Hakimuddin and Shabbir Hussain Malik contending the privatisation process was being carried out by the respondents without prior approval of CCI and without its supervision and control in violation of article 154 of the Constitution.
The court was prayed to declare the sale of KESC with management control to Hasan Associate void and unlawful and restrain respondents from carrying through with privatisation of KESC without independent and rational assessment of merit and demerits of the privatisation at current stage and disseminating the result of such assessment to public.
However, PC said privatisation process of KESC had not been conducted under any veil of secrecy and all the major stakeholders in KESC were consulted and kept abreast of all major development at every stage.
The PC told the court that full price of $265 million had already been received and 73 percent shares of KESC with management control were transferred to reconstituted Hasan Associates. The respondents prayed the court to dismiss the petition as anfractuous.
The next hearing of the case has been fixed for January 19, 2006 by court after the request of PC's counsel Abdul Hafeez Pirzada who is stated to be engaged in the Supreme Court.