KARACHI: K Electric on Wednesday listed its Sukuks in Karachi Stock Exchange (KSE). A ceremony in this regard was held in the trading hall of KSE in which Chief Executive Officer (CEO) of K-Electric Nayyer Hussain formally listed the Sukuks by ringing the gong.
Managing Director KSE Nadeem Hussain Naqvi and other officials of KSE and K-Electric were also present.
Talking to media after listing the Sukuks, Nayyer said that K-Electric Sukuks were the first Islamic bonds in Pakistan which have got good response. “
To a question, he said that his company was now going toward a right and good course, he said the company generates sound profit that is why it was decided to launch Sukuks. “Profit from this investment will be spent on generation of electricity,” he added.
To another question, he said that the company had overcome lines losses mainly and now there was no load shedding in 56% areas of Karachi, while the practice would be continued in summer too.
He said that those areas which still had lines loss problems would continue to face power outage up to 7 and half hours a day even in hot weather.