KESC's 96th Annual General Meeting of shareholders, chaired by Shan Ashary, senior member KESC Board of Directors, and attended by Akhtar Zaid, Frank Scherschmidt, Mohammad Asghar, Chief Financial Officer and Shahana Ahmed Ali, Chief Legal Consul & Chief Corporate Officer, was held here at the Fleet Club.
The Shareholders were informed that during the year under review KESC reduced technical losses by one percent. While, Shan Ashary agreed for checking of faulty meters on priority basis.
KESC CEO made a multimedia presentation, which highlighted the KESC's existing distribution network and generation situation, as well as human resource related steps taken by the present management.
He informed the meeting that new human resource policy for the benefit of the employees is under consideration, while service contracts of all contractual employees have been extended for one year. As far as generation is concerned, the CEO said that by rehabilitation of Bin Qasim Thermal Power Station 115 MW additional electricity could be obtained.
He further informed the shareholders that several steps are being taken for improving network. A modern Load Dispatch Centre is being established for the digital monitoring of the city power supply network.
The Chief Financial Officer paid a tribute to former member of KESC board of Directors Khusro Khawaja for his brilliant and sincere services to the power utility and proposed a resolution for appreciating his services.
He also assured the shareholders that a new human resource policy is under consideration and would be implemented soon.
Mohammad Asghar said that for recovery of outstanding dues a 40-member team headed by a senior banker has been formed to begin recovery. He said that for eliminating illegal connection (Kunda) we will introduce a scheme by which people would be able to use electricity in legal way.
The BoD members listened to the comments and observations of the shareholders with great interest and assured them that their proposals would be considered for future planning and improvement of the city power supply system.
After a lively debate KESC accounts for the year 2005-06 were approved. On the behalf of KESC Chief Legal Consul Shahana Ahmed Ali, Divisional Directors Khalid Iqbal and Jamil Gul Sheikh and Principal Information Officer Syed Sultan Hasan answered to the numerous queries of the KESC shareholders.
A resolution appointing Ford Rhodes Sedat Hyder & Company as the auditors of the company for the next financial year was also approved.-PR