Karachi, October 30, 2007: The 97th Annual General Meeting of KESC presided over by Chief Executive Officer, Mr. S. M. Amjad was held at Fleet Club on Tuesday, Oct 30. Participated by member of the Board of Directors Mr. Akhtar Zaidi, Chief Financial Officer, Mr. Mohammad Asghar, Company Secretary Ms. Uzma Amjad Ali, Executive Directors Mr. Akram Durrani, Syed Tanzeem Husain Naqvi, Mr. Malik Habib, Mr. Wajahat Ather and other senior officers.


The 97th AGM witnessed enthusiastic participation by the shareholders, prominent share holders made critical analysis and presented useful suggestions for further improvement in the performance of KESC, included Mr. Afif Alvi, Chaudhry Mazhar, Mr. Siddiq Shujat, Mr. Mohammad Yousuf, Mohammad Farooq and Mr. A. K. Zaidi, Mr. Abdur Razzaq, Mr. Javed ul Hasan. Some of the shareholders made very searching queries and appreciated the KESC management, engineers and workers.


On a question, CEO-KESC Mr. S. M. Amjad, informed that work on the Korangi 220MW power plant being installed by a Greek firm is progressing according to the schedule three of the open cycle units of 48MW have already been placed, the first unit will start generating 48 MW by next four to six weeks and by next March the plant will provide 194MW. It will have four open-cycle units and one combined cycle unit of 28 MW.

Mr. Amjad further informed that for putting up another power plant of 560MW at Bin Qasim commercial bids have been opened and deliberations are continuing to award the contract shortly. By summer 2010 KESC would be adding 780MW of new power generation to its existing capacity.

Addressing the shareholders CEO-KESC informed that pre-privatization of the utility the Government of Pakistan use to meet the yearly operational cash shortfall averaging Rs. 8.5 billion through subsidy from the national exchequer. But post -privatization after November 2005 obviously the GOP was saving the amount of Rs. 8.5 billion annually as it is not required due to the privatization of KESC.

He said that to overcome the city power shortages and minimize loadshedding rental power generation is also being contemplated by KESC for the next summer to bridge the gap. Besides, existing 52 grid stations one new grid has been completed, another two grids will also be ready soon, while nine other grids will be completed in next 18 months.

For the improvement of power distribution system out of a total of 940 11kv power supply feeders 90 of the old ones would be replaced, simultaneously 104 new feeders would be added which will stabilize the distribution network significantly.

During the fiscal year 2006-7 total investment in fixed assets amounting Rs.12 billion was made. Investment in generation plant and machinery Rs.5.2 billion; for transmission system Rs. 3.4 billion; Distribution system Rs.3.1 billion; other equipments Rs.0.3 billion.

KESC police in two separate raids arrested seven persons red handed stealing electricity wires and cables at Memon Goth and Landhi areas.

Police recovered tools, pick up truck, rope ladder used for cutting the lines. Stolen copper wires and cables were also taken from their possession. FIRs have been lodged against the accused persons.

According to details SHO KESC police Faqir Mohammad Jatoi received information that some suspicious people are being stealing  over head power supply copper lines at Memon Goth. On receiving the information police rushed to the spot where five persons were busy in cutting wires by hanging on a rope ladder while a pickup truck no. KF-5737 was parked on the spot. Police challenged the culprits two persons standing on the ground managed to escape from the scene taking advantage of the darkness. However, police apprehended Mian Dad, Waheed Ali, Fayyaz Hussain Shah, Fateh alias Rafi and pick up driver Umer Nawaz. The police action was fully supported by residents of surrounding area village who helped KESC police in arresting the copper thieves.   Police recovered 20 kilogram of copper wire, rope ladder, and wire cutter from their possession. Memon Goth police station registered the case.

In another raid during a routine patrolling KESC police arrested another two persons busy in wrapping up cable after cutting it from factory plot no. 4/B area 7 Landhi. Police recovered four core and two core cables of costing Rs. 60, 000 (Rupees Sixty Thousand) cable cutting equipments. Police arrested Wajid Khan while another who fled from the scene was later arrested identified as M. Imran alias Saleem.

each stage of business. KESC being Karachi’s lifeline, requires rejuvenation of its spirit at every management level.  Therefore, in the greater interest of the city’s utility and with mutual consent, Mr. Amjad will be instated in place of Mr. Scherschmidt, who has agreed to relinquish his responsibilities as the CEO of KESC with immediate effect. Through his diverse experience, Mr. Amjad would most befittingly be able to take management control of the organization.”

Mr. Amjad is an experienced and renowned professional business manager who has previously served as the Managing Director of Fauji Foundation for over 3 years. He took the Foundation to a new height in terms of leadership, institutionalization, and profitability for which he is well-respected in the corporate world. Having managed a very diversified industrial and financial conglomerate portfoilo, he is expected to add value to KESC’s progressive growth and transformation.

Commenting upon Frank Scherschmidt’s departure, the spokesperson said, “Mr. Scherschmidt had taken over control of KESC at a very critical juncture when the institution was newly privatized. He played a pivotal role in laying the foundations of a corporate culture within the organization. He served the post of KESC’s CEO with complete devotion, sincerity and competence, which won the hearts of all the KESC employees and the citizens of Karachi alike.”

KESC’s Board and its members appreciated the contributions of Mr. Frank Scherschmidt and wished him all the luck and support in his future endeavours.

Mr. Liaquat Jatoi, Federal Minister for water & Power addressing a press conference at the office of alternate Energy Board after being briefed about the system improvement work carried out by KESC and city power situation during the next summer. Also seen in the picture are Secretary water & power Mr.Ashfaq Mahmood, CEO KESC Mr. Frank Scherchmidt and Mr. Akhtar Zaidi.