Pakistani-American entrepreneur Ali Shekhani, CEO of the Shekhani Group, has expressed interest in acquiring K Electric, Karachi’s primary power utility. Shekhani made this announcement through a video message on his verified Instagram account.
In his statement, Shekhani revealed that Karachi residents have been repeatedly tagging him and his team on social media platforms over the past several days. “Consumers are urging me to purchase K Electric,” he said.
Shekhani disclosed that he has initiated discussions regarding K Electric’s sale status and potential acquisition methods. This comes at a time when K Electric has sought regulatory approval for a substantial rate hike of 10 rupees and 69 paise per unit.
The business magnate emphasized his readiness to acquire K Electric without resorting to any unethical practices. “I would buy K Electric for the benefit of Karachi’s residents,” Shekhani stated.
He further added that profit-making would not be his primary motive if the Shekhani Group were to acquire K Electric. “Allah has blessed me abundantly. My goal would be to provide relief to middle-class families,” he explained.
This development occurs against the backdrop of growing public concern over rising electricity costs in Karachi. Shekhani’s proposal has garnered significant attention, with many viewing it as a potential solution to the city’s ongoing power woes.
As of now, neither K Electric nor regulatory authorities have commented on Shekhani’s statement. The situation continues to evolve, and further updates are expected in the coming days.
