In the second week of March K-Electric organised a national dialogue on localisation which was attended by stakeholders from all over the country. While speaking at the event K-Electric CEO, Moonis Alvi, shared that the company’s proposed PKR 484 billion investment plan is providing a clear, predictable roadmap for the future, which is a tremendous opportunity for local investors to participate in. Five MOUs were also signed by K-Electric at the event.
At the National Policy Dialogue on Localization for Growth held in Karachi, the Chief Supply Chain Officer Sheraz Kashif also shared that the power sector’s potential for localization in Pakistan is an estimated PKR 470 billion over the next 10 years. Chairman NEPRA Tauseef H Farooqi, Governor Sindh Kamran Tessori, Minister of State (Petroleum) Dr. Mussadik Malik, and Federal Minister of Energy (Power Division) Khurram Dastgir Khan were among the attendees at the event.
K-Electric has invested PKR 474 billion across the value chain, and soon the company will be generating 2172 MW of indigenous energy by 2030. Alvi emphasized that the current macroeconomic conditions make it imperative for all stakeholders to work together to build a stronger and self-reliant economy and reduce pressure on the national exchequer. Senator Dr. Musadik Malik, Minister of State, Ministry of Energy, believes that instead of relying only on one-time solutions, we should strive for a strong indigenous footprint. Senator Malik also shared that the localization begins with everyone coming together under one common identity. The world is progressing with zero asset policy, and localisation is the only way forward. K-Electric is focusing on reducing reliance on imported materials, be it equipment, machinery, fuels, or any other resource required for power production.