K-Electric (KE) CEO Moonis Alvi recently met with the Asian Development Bank’s (ADB) private sector operations team, led by Deputy Director General Cathy Marsh, to discuss potential collaboration and investment in Karachi’s power sector. The primary focus of the meeting was KE’s ambitious $2 billion investment plan designed to significantly upgrade and strengthen the city’s power infrastructure.
A key aspect of the discussions centered on the ADB’s potential role as a major financier for this substantial undertaking. The meeting underscored KE’s dedication to sustainable growth and providing a reliable power supply for Karachi’s residents and businesses.
The ongoing Multi-Year Tariff (MYT) process also featured prominently in the discussions. KE anticipates a decision on the MYT soon, noting that the recent determination of the generation tariff represents a crucial step forward, indicating progress towards a more stable regulatory environment.
Both KE and the ADB stressed the importance of a sustainable transmission and distribution tariff framework to guarantee KE’s long-term financial health and its capacity to continue investing in Karachi’s energy future.
KE reaffirmed its commitment to collaborating with key stakeholders, including prominent development finance institutions like the ADB, to modernize and improve Karachi’s power network, ultimately driving economic growth and development within the city.
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