June 29 , 2015
NewsGovt tells SC it incurred losses while K-Electric reaped profits
ISLAMABAD: The federal government while submitting its reply to the Supreme Court on Monday said that K-Electric owes Rs 130 billion to various government institutions and after privatisation in 2008, it was given exceptional benefits.
The government submitted its response today in the case pertaining to a petition by K-Electric against the Karachi Water & Sewerage Board (KWSB).
In its reply, the federal government stated that since 2005, the concessions given to K-Electric have caused losses equaling Rs 269 billion to the government.
It went on to say that after 2009, the concessions given to K-Electric gave the power company profits of Rs 49.3 billion.
The government appealed to the court to reject the plea filed by K-Electric and fine it heavily.
SHC case
Meanwhile, the Sindh High Court (SHC) sought assistance from the Deputy Attorney General and Advocate General in the case pertaining to the responsibility of the government as well as K-Electric regarding the heatwave deaths in Karachi.
Courtesy www.thenews.com.pk