The first meeting of Secretary Water and Power Younus Dagha-led committee on K-Electric related issues remained inconclusive as Sindh government, Sui Southern Gas Company Limited (SSGCL) and Central Power Purchasing Agency (CPPA) did not complete their homework, well-informed sources told Business Recorder. When the representative of Sindh government was asked to share reconciled figures of arrears, he said he does not have the reconciled figures.
KE also gave the same reply. When the representatives of SSGC and CPPA were asked about reconciled figures against KE, drafts of Gas Supply Agreement (GSA) and Power Purchase Agreement (PPA), their reply was no different from KE and Sindh government. "It was an initial formal meeting amongst the stakeholders. We have given them two weeks more to complete their homework," said Secretary Water and Power. According to sources, CPPA and SSGC had complained to the federal government that KE is in default of billions of rupees and all efforts to collect the amount have proved futile.
National Electric Power Regulatory Authority (Nepra) conducted a detailed analysis of KE affairs and submitted a report to the Prime Minister who directed the regulator to conduct performance audit of the privatised company. Insiders claim that Ministry of Water and Power has not softened its stance against KE after a meeting between the representative of Minister for Water and Power, Khawaja Asif and representative of Abraj Group.
In the first meeting Minister Khawaja Asif was almost out in arms against the officials of K-Electric, who felt under severe pressure. The GoP owns 26 percent shares in K-Electric and three directors represent the government on the board. Khawaja Asif levelled serious charges against the power utility saying that he was aware of "fraud" done by the Abraj Group. However, K-Electric management clarified that the period mentioned by the Minister relates to 2005-2008 when the utility was owned by Jumaiah Group.