KARACHI: Abraaj Group’s K-Electric Limited has announced the appointment of Shan A. Ashary as its new Chairman of the Board effective 7 September 2020.

Mr. Ashary, who has been on the Board of Directors of the Company since 2005 and represents the KES Power stake in KE, is the longest-serving member of the board. As the new Chairman, his focus will be on operational excellence at the Company across its generation, transmission and distribution functions to ensure safe, reliable and uninterrupted power supply to the Company’s customers.

The Board of Directors is confident that Mr. Ashary, with his proven track record of accomplishments, will bring a wealth of knowledge and valuable experience to the position. The Board also looks forward to working closely with the committee formed on the directives of the Honorable Supreme Court to facilitate K-Electric’s service provision and investment approvals through a one-window solution.

Mr. Riyadh S. A. A. Edrees has decided to step down from the position of Chairman and Board member of K-Electric due to his other professional and board commitments and inability to be present in Karachi due to COVID-19 situation and hence, not actively participate in KE’s board governance. The Board expresses its appreciation to Mr. Edrees for his leadership and contribution to the Company’s performance.

K-Electric has come a long way since its privatization in 2005, and has converted from an under-utilized strategic asset into a leading energy player today. With the unplanned growth of Karachi and other civic challenges it continues to face challenges. The new chairman is committed to lead the utility contribute towards the development and growth of Karachi.”