More KESC woes!
| Just a few days back us- my colleagues and our boss- was discussing the latest trend, or more appropriately, the copycat culture borrowed from the west of paying obscenely high cash payments in cash to senior management and CEOs. The news currently doing the corporate circles is that the newly appointed CEO of Karachi Electric Supply (read: Shortage) Corporation is getting some 50 lacs…yes, you’ve read it right – that’s 50 very large ones, in monthly compensation. What to say of his provident fund and other benefits. All in all, an extremely bad payment structure for a failed corporation like KESC. |
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And that is not all. Some 40-odd juniors reporting directly to their new boss, many of whom have been head-hunted from other successful corporations have been hired on more than a million rupees a piece (monthly), while a few more are being paid 2.5 million or more a month. |
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Now do not get me wrong. I am all for the success of an individual in this bad, mad world of corporates. But I am perplexed as from where this millions of rupees will come from, given that the corporation has for many years running in red? Or, could it be that the recent hike of about 70 percent was done just to compensate these bright-eyed boys at the helm of affairs. If this is the case, then God help us, because we certainly do not accept any mercy from the KESC. |
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Me thinks that this is a very bad decision on part of those comprising the new team. Doesn’t they have any conscience that they have been hired at such rates at KESC, an organisation which is incurring losses for the last few years, and which has a very bad track record of providing services to its clients, will obviously now cut corners just to pay the new team crores of rupees and for what – to run it on the same (corrupt) lines as their predecessors. I am not sure what success or even profit that Abraaj Capital thinks it can make from KESC, but personally, I can only see a further aggravation in KESC’s affairs. |
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I think KESC needs a culture of accountbility and quality customer service mind set. This requires fresh eyes and fresh brains.
KESC should go home if cant run offices… We all will buy a huge generator in every town and will make our own bijli (electricity).
Atleast we’ll get rid of load-shading.
But going home of KESC will solve the problem ? will someone else takeover the company ? Will new owner be able to run company with lower corrupt staff and crumbled down infrastructure ?
Is China going to provide pak some electric generating atomic reactors ? (Dr Qadeer says each reactor takes around 3~5 years to be fully set up) Will we still have to see for next 3~5 years ?
Every pakistani is very disappointed and wants to get out of here. This is also the reason everyone looking to run away from country and none of us taking active part to correct system except criticism – This is our nature. Pakistanis cant live without criticism!
I heard just this weekend that there was 22 hours of load-shedding in karachi on a single day… KESC management getting millions of rupees is a travesty, especially since the job is not getting done… arsalaan what is the public saying about this in pakistan?
regarding electric rates that is the case even in the US. our rates i believe are up 10-20% this past year… lets see if things get better with the price of oil and gas going down.
yes T-Money, you are absolutely right that the prices are high than the past.. but thats not 10-20%, the raise is of around 40-70%… and still in this scenario KESC is not able to fulfill power consuption needs in the city.
Theres around 12 hrs load shadding in karachi and even in some areas its upto 15-18 hours, and over all this load-shading peoples are getting much higher electricity bill… this is worst irretating condition.