Govt, K-Electric agree to appoint mediator for Rs 300 billion debt dispute

According to Power Division, a retired judge of the Supreme Court will be appointed as arbitrator.

ISLAMABAD (Dunya News) - Government of Pakistan and K-Electric have reached an agreement to appoint a mediator for the Rs 300 billion debt dispute, Dunya News reported on Wednesday.

According to Ministry of Power Division officials, a significant progress has been made in the sale of K-Electric s shares to Shanghai Electrics and the federal government and K-Electric have agreed to appoint a mediator for the Rs 300 billion debt dispute.

According to the Power Division, a retired judge of the Supreme Court will be appointed as the arbitrator who will settle debt dispute between government, K Electric and Sui Southern Gas Company.

Shaikh Abdulaziz Hamad Aljomaih, head of the Aljomaih Holding Company of Saudi Arabia and owner of K-Electric, has also reached Karachi and has held important meetings with Governor Sindh and K Electric officials.