Meet the new K-Electric

Shaheryar Chishty’s office in Lahore is on the fifth floor of the Hyundai Motors Building right off Kalma Chowk. It is two buildings down from the Kalma terminal of the Daewoo Bus Service. The bus service was Chishty’s first major foray in business, buying it from its South Korean sponsors in 2011. 

In the 15 years since he has become one of the most influential and diversified business owners in the country. Daewoo has turned into the country’s premier city-to-city transport service. His private equity firm, AsiaPak Investments, has significant interests in Thar Coal, it owns the Bol Television Network, and in November 2025 partnered up with the Dubai based oil-broker Montage to buy Lotte Chemicals. 

And since last week, AsiaPak Investments is also running the show at K-Electric with Chishty as the utility company’s Chairman. The journey to get there has been long and laced with turbulence. It took AsiaPak nearly four years to actually get management control of KE after acquiring the majority stake in the company. Now that Chishty finally has the keys to KE, it is a very different beast to the one he first bought. 

A long-standing offer to buy the company by Shanghai Electric has fallen through. Pakistan’s solar revolution has emerged as a behemoth with great promise and great complications. The world itself has changed dramatically. And throughout it all KE has been asleep at the switch. So what will Shaheryar Chishty do now? 

Profit sat down with K-Electric’s chairman for a one-on-one interview to understand what the future holds for K-Electric, for Karachi, and for Pakistan.