ISLAMABAD: The federal government while submitting its reply to the Supreme Court on Monday said that K-Electric owes Rs 130 billion to various government institutions and after privatisation in 2008, it was given exceptional benefits.
The government submitted its response today in the case pertaining to a petition by K-Electric against the Karachi Water & Sewerage Board (KWSB).
In its reply, the federal government stated that since 2005, the concessions given to K-Electric have caused losses equaling Rs 269 billion to the government.
It went on to say that after 2009, the concessions given to K-Electric gave the power company profits of Rs 49.3 billion.
The government appealed to the court to reject the plea filed by K-Electric and fine it heavily.