K-Electric Ltd., Pakistan’s only vertically integrated power utility, outlined an ambitious $2 billion investment roadmap through 2030 at a corporate briefing on Monday, leveraging a newly approved multi-year tariff to modernize Karachi’s aging energy infrastructure and ramp up renewable power generation.
The company, which serves over 3.4 million customers in Karachi and surrounding areas, said the green light from the National Electric Power Regulatory Authority (NEPRA) on its FY24–FY30 Multi-Year Tariff (MYT) paves the way for upgrades across transmission, distribution, and generation systems.
KE’s CFO Muhammad Aamir Ghaziani reassured investors that the revised tariff will not impact consumer-end pricing due to the federal government’s uniform tariff policy.
At the Pakistan Stock Exchange session, KE spotlighted its clean energy push, having finalized competitive bids for 640 MW in renewable projects. These include the Dhabeji 220 MW hybrid solar-wind project—approved at a record-low Rs8.92/kWh—and the 150 MW Winder-Bela solar cluster. The utility aims to source 30pc of its energy mix from renewables by 2030 as part of its broader decarbonization strategy.
Since its privatization in 2005, KE says it has funneled more than $4.6 billion into its infrastructure, delivering a 104pc boost in transmission capacity, 2.3x growth in distribution, and a nearly 20-point reduction in technical and commercial losses. Losses on the aggregate level now stand at 23.1pc, down from 43pc in 2009.
Beyond internal milestones, KE flagged persistent sector-wide headwinds, such as local gas supply constraints and circular debt, but distanced itself from the latter. “We have zero contribution to the current circular debt buildup,” Ghaziani noted, emphasizing that structural reform—including privatization and performance-linked oversight—remains essential for energy sector viability.