KARACHI: K-Electric held its 112th Annual General Meeting (AGM) for FY22. The meeting was chaired by Moonis Alvi, Chief Executive Officer, KE who was authorized to chair this meeting by the Chairman of the Board, Mark Skelton.

The Chairman and the KE Board members were in attendance on virtual mode, while KE leadership was present in person.

The KE’s operational performance shows improvement on the back of sustained investments across the value chain.

The company’s transmission and distribution losses declined by 2.2 percentage points, closing at 15.3 percent in FY22 against 17.5 percent in the previous fiscal year.

This reduction also beat the target of 15.95 percent set by the regulator which is a noteworthy achievement.

With capacity enhancement initiatives across the power value chain, KE was able to dispatch almost 20 billion units (19,800 GWh) of electricity to homes, offices, and industries across Karachi. In parallel, efforts to inculcate a culture of regular bill payments and engagement with community representatives improved recovery ratios for the company by 1.8 percentage points.

Over 200,000 new customers have been added to the network taking KE’s customer base to 3.4 million.

Copyright Business Recorder, 2022