ISLAMABAD: A National Assembly committee on Tuesday raised serious concerns about the leadership of K-Electric (KE), declaring its CEO Moonis Alvi “unfit” for the position during a tense session focused on prolonged load-shedding affecting Karachi’s industrial sector.
According to a statement from the NA Secretariat, the Standing Committee on Industries and Production, chaired by MNA Syed Hafeezuddin, criticized Alvi’s conduct as “informal, unofficial and non-professional.” The statement came after a heated exchange between committee members and the KE chief, culminating in member Syed Raza Ali Gillani calling for action against Alvi and stating he would not attend further meetings if Alvi remained present.
The committee also expressed frustration over the absence of representatives from the National Electric Power Regulatory Authority (NEPRA). When asked about their absence, Alvi remarked they may have attended a cabinet meeting, a comment that reportedly added to the committee’s displeasure.
Another member, Abdul Hakeem Baloch, suggested invoking privilege motion powers against Alvi, stressing the need to first address his conduct. “A decision must be made about his [Alvi’s] behaviour,” he said.
In a statement shared with Business Recorder following the session, a KE spokesperson called the incident “unfortunate” and added, “K-Electric, as a private entity, holds complete respect for Parliament and its esteemed members.”
Discussions during the meeting also touched on technical matters, including the status of the Ittehad Cottage Feeder, which was reportedly installed in 2014 under a cost-sharing model with consumers. According to Alvi, the feeder, located in a high-loss area, was part of KE’s broader efforts to support Karachi’s cottage industry, and additional feeders were later installed to meet rising demand.
Chairman Hafeezuddin criticised KE’s lack of action on the committee’s previous recommendations, vowing to pursue their implementation vigorously. “We are here as representatives of the people and the Assembly,” he said.
Alvi also disclosed that KE investors had committed $850 million in investments between 2005 and 2008. He added that issues related to profit repatriation remain between the investors and the Government of Pakistan. He further said that a case concerning a government subsidy for Karachi industries during the COVID-19 period is under court consideration, and KE will respect the final ruling.
Earlier in the day, KE notified the Pakistan Stock Exchange (PSX) that NEPRA had approved its new Multi-Year Tariff (MYT) for the supply segment for FY2024 to FY2030. The announcement follows NEPRA’s recent approval of MYT for the utility’s transmission and distribution network segments for the same period.
