Islamabad, Jan 30: In a significant move to bolster Karachi’s power infrastructure, Moonis Alvi, the CEO of K-Electric, recently met with Cathy Marsh, the Deputy Director General of the Asian Development Bank (ADB), and her team to explore potential areas of mutual cooperation. The key focus of their discussions was the $2.0 billion investment plan that K-Electric has devised to strengthen the city’s power grid.
The meeting centered on ADB’s potential role as a financier in the ambitious investment plan, which aims to enhance the generation, transmission, and distribution capacities of K-Electric. This investment is critical in meeting Karachi’s increasing demand for electricity and ensuring a reliable power supply to support the city’s growing needs.
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During the meeting, the participants also reviewed the progress made under the Multi-Year Tariff (MYT) framework, particularly concerning generation tariff determination. Both parties emphasized the importance of setting a sustainable transmission and distribution tariff that can underpin K-Electric’s long-term stability. This would also facilitate the continued influx of investment into Karachi’s energy sector, ensuring a resilient and future-ready infrastructure.
Alvi highlighted that a fair and well-structured tariff system is crucial for the financial viability of K-Electric, enabling the company to maintain and expand its services while meeting the city’s energy needs. The talks between K-Electric and ADB mark a positive step towards strengthening Karachi’s energy infrastructure and aligning it with future demands.
The cooperation with ADB is expected to bring not only financial support but also technical expertise, which will be instrumental in optimizing power generation and distribution in Karachi. This collaboration is expected to play a key role in ensuring that K-Electric remains a sustainable and reliable provider of electricity in the years to come.
