Karachi Electric Supply Company Limited (KESC), was incorporated on 13 September 1913, under the now repealed Indian Companies Act, 1882 currently Companies Ordinance, 1984). In 1952, the Government of Pakistan (GoP) took control of the Company by acquiring majority shareholding of KESC. In 2005, the Government privatized KESC. In 2008, Abraaj Capital, a leading private equity firm based in Dubai, bought the power utility for a significant equity stake in the Company. Abraaj Capital now enjoys full management control over KESC via the holding company, KES Power Limited which holds 72.58 per cent of its shares.
The management of KESC is run through a professional management team headed by Mr. Tabish Gauhar, who was appointed as the KESC's Chief Executive Officer (CEO) in November 2009 and has taken over as the Chairman of KESC's Board of Directors effective 12 February 2013. Mr. Nayyer Hussain, who was serving as an executive director and Chief Distribution Officer since 2010, assumed the role of Chief Executive Officer, effective 12 February 2013. The Government still holds 25.66 per cent of the KESC shares.
KESC is the only remaining vertically integrated power utility in Pakistan that generates, transmits and distributes electricity. KESC has exclusive franchise rights to provide electricity to industrial, commercial, agricultural and residential consumers of Karachi, Pakistan’s largest city, and its surrounding areas under the Electricity Act, 1910 as amended to date and NEPRA Act 1997, to its licensed areas. The Company has a total of 10,962 employees (source: KESC HR Department); its network spans an area of 6,500 square kilometers and it enjoys one of the largest customers’ bases in the world of over 2 million connections, catering to electricity needs of around 20 million inhabitants of Karachi. Listed on all three of Pakistan’s stock exchanges, KESC has generated Rs. 162.816 billion revenue during fiscal year 2011-12.