Karachi: Despite macroeconomic and geopolitical challenges, KE is confident in serving customers in reliable and efficient way through comprehensive and multi-pronged strategy. KE’s Chief Financial Officer Muhammad Aamir Ghaziani at Corporate briefing session at Pakistan Stock Exchange said, “Sustained investments in value chain have driven continued improvement in KE’s core business. Since privatisation, KE has been able to reduce its transmission and distribution losses from approximately 34 percent to 15 percent at end of FY22.”

Utility’s transmission and distribution losses have reduced by 2 percentage points at end of first quarter of FY23 compared to same period last year, while generation efficiency has also improved by 0.6 percentage points during this time. Investment of around Rs 62.8 billion in FY22 and Rs 11.6 billion in first quarter of FY23 has been made across power value chain. KE is preparing itself for future. Panel shared plans to add up to 500 MW of efficient, clean energy in short term to diversify company’s fuel mix and lower costs of electricity for company and consumers alike.

Simultaneously, construction works of Dhabeji and KKI grids are underway to allow KE to receive additional supply of up to 2050 MW from the National Grid. On distribution front, company intends to enhance its infrastructure and continue its efforts to reduce distribution losses by rolling out Aerial Bundled Cables (on its network and implement new and reengineered processes for an improved customer experience.  Sadia Dada Chief Marketing and Communication Officer shared KE’s multi-award winning corporate social responsibility strategy, which is driving grassroots development of communities it operates in.

Company shared highlights of its efforts including installation of water filtration plants, renovation of schools and public parks and setting up of health camps which have collectively benefitted approximately 200,000 persons. KE’s flagship Roshni Baji Programme also completed its 2nd cohort. Collectively 100 women have undergone training as KE’s neighborhood safety ambassadors as well as country’s first certified female electricians. Collectively, these women have educated over 463,000 households on safe practices for electricity usage, building safer communities.

Through different other partnerships, women are also being trained in financial literacy, self-defense, motorcycle operations, and CPR training. Continued awareness on safety through public service messaging has reached hundreds of thousands of people across Karachi’s high-risk areas as well. Briefing shed light on external factors which affected KE’s financial performance including, demand disruption due to macro-economic factors, receivables from government of Pakistan and related entities, devaluation of rupee resulting in exchange loss, increases in effective rates of borrowing leading to higher finance cost and increases in consumer tariffs which affected customer’s propensity to pay bills resulting in increase in provision against doubtful debts.

Company expects some in increase in growth due to shift of captive consumers to grid during upcoming winter season and is also working diligently on conversion of captive consumers to grid in line with government’s policy as well as simplified new connection process. Aligned with mission of brightening lives by building capacity to deliver uninterrupted, safe and affordable power to Karachiites, KE will continue to make investments across value chain, enabling company to improve operationally whilst progressing on value creation curve through innovation and technological advancements. However, support from government and regulatory authorities remain critical for execution of planned investment.

Published in The Daily National Courier, November, 23 2022

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