SHC gives clearance to K-Electric in privatisation case
KARACHI: Sindh High Court on Thursday has declared the privatisation of KESC ( now called K-Electric) legal in a case pending for 15 years.
Turning down the petition filed by the company’s labour Union in opposition to privatisation in 2005, the court said that the petitioner was unable to prove that the privatisation was against the law.
The verdict was announced by Justice Aqeel Abbasi who headed a two-judge bench.
Before its privatisation in 2005, the government had 98% of KESC shares, out of which 71% shares were sold to a Saudi firm, converting the company’s status from national to private, until the Abraaj group took over in 2009.
