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KESC earns Rs. 594m. pretax profit in 1989-90.

KESC Earns Rs. 594m. Pretax Profit in 1989-90

Karachi Electric Supply Corporation earned a pretax profit of over Rs. 594 million enabling the management to provide best possible return to its shareholders i.e. 25 per cent bonus shares in lieu of cash dividend for the year 1989-90.

Lt. Gen. Zahid Ali Akbar, KESC Chairman, described the increased generation and sales as main contribution to the financial growth of the organisation. He said the installed capacity of the KESC for the year 1989-90 was 1318 megawatts. The actual capacity stood at 1190 M.W. The maximum demand was 1160 M.W. as compared to 1060 M.W. in the previous year.

He said that the energy dues increased from Rs. 1775 million to Rs. 2258 million. The major increase being against KW & SB where dues increased from Rs. 178 million to Rs. 361 million concerted.

He said that the work on Unit-5 also continued in full swing and it is expected to be commissioned in March 1991 with a cost of about Rs. 4211 million. Lt. Gen. Akbar further said that the expansion and augmentation work of KESC distribution

tem u{jj bg wndgrtckgp c a cost of about Rs. 23018 million including a foreign exchange component of Rs. 7373 million for a future period covering 4 to 5 years.

The KESC Chairman said that he will strongly advocate the KESC dues case at the Ecnec meeting being held in Islamabad. He said that 566 electrification schemes were completed at a cost of Rs. 198 million. Under these schemes 26 villages were electrified and 46,188 new connections were provided.

With regard to on-going Power Plant Project he said, on September 26, 1989 the first synchronization of Unit-3 of Bin Qasim Thermal Power Station was carried out while its trial run with the full load of 210 MW began on March 25, 1990. First synchronization of Unit-4 was carried out on June 26, 1990. Both these Units each of 210 MW have been constructed at a cost of Rs. 6969 million, he added.
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Title Annotation:Corporate Briefs; Karachi Electric Supply Corporation
Publication:Economic Review
Date:Feb 1, 1991
Words:343
Previous Article:Objectives of Gulf war.
Next Article:PSO earns rs. 367.2m. pretax profit in 1989-90.
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