We will obtain low-cost electricity by using Thar coal says Shaheryar Chishty

Shaheryar Chishty is a Pakistani businessman who has recently acquired K-Electric, the largest power utility company in Karachi. Chishty is a former international banker and the owner of Daewoo in Pakistan. He also has significant interests in multiple energy projects, including mining rights in Block 1 of Thar Coal.

Chishty's acquisition of K-Electric has been met with mixed reactions. Some have welcomed his arrival, hoping that he will be able to turn around the company's fortunes. Others have expressed concerns about his lack of experience in the power sector.

Chishty has said that he plans to invest heavily in K-Electric and improve its operations. He has also said that he wants to make the company more sustainable and environmentally friendly.

Chishty's background

Chishty was born in Karachi in 1970. He studied economics at the University of Karachi and then went on to work as an investment banker at Goldman Sachs. In 2001, he founded his own investment firm, AsiaPak Investments.

Chishty is a private individual and does not often speak to the media. However, he has said that he is passionate about Pakistan and wants to help the country develop. He believes that K-Electric has the potential to be a major driver of economic growth in Karachi.

K-Electric's challenges

K-Electric is a loss-making company. In 2022, it reported a loss of Rs. 13.5 billion. The company's problems are due to a number of factors, including outdated infrastructure, high debt levels, and political interference.

Chishty will have his work cut out for him if he is to turn K-Electric around. However, he has the resources and the experience to do it. He has also said that he is willing to take on the challenges.

Chishty's plans for K-Electric

Chishty has said that he plans to invest heavily in K-Electric. He wants to upgrade the company's infrastructure, reduce its debt levels, and improve its customer service. He also wants to make the company more sustainable and environmentally friendly.

Chishty has said that he is open to working with the government to improve K-Electric's operations. He has also said that he is willing to listen to the concerns of the company's employees and customers.

Chishty's arrival at K-Electric has been met with mixed reactions. Some have welcomed his arrival, hoping that he will be able to turn around the company's fortunes. Others have expressed concerns about his lack of experience in the power sector.

Only time will tell whether Chishty will be able to turn K-Electric around. However, he has the resources and the experience to do it. He also has the backing of the government, which is eager to see the company succeed.