SC steps back from economic issues

The country’s top judge has said the Supreme Court does not have expertise in economic matters and, therefore, it will not interfere in issues related to the economy.

“This is not our domain. We won’t interfere in it,” Chief Justice of Pakistan Umar Ata Bandial said on Monday while hearing a petition filed against the privatisation of the Karachi Electric Supply Corporation (KESC) which was subsequently renamed as K-Electric (KE) in 2013.

The CJP -- who was leading a three-judge bench—told the petitioner’s counsel, Rasheed A Rizvi, that he might approach the relevant high court against the privatization of the company that distributes power across the country’s economic hub Karachi.

“The parliament has also made two laws with regard to Section 3 of Article 184. We are listing old cases for hearing just to know if they are relevant or not,” Justice Bandial said.

“Moreover, it has been 18 years since the utility was privatized,” he added.

Read K-Electric tariff further upped by Rs1.55 per unit

Advocate Salahuddin said a petition is also pending against the KESC labor union. Justice Ayesha Malik, a member of the bench, said the bench was not hearing that petition right now.

The counsel for the petitioner requested the court to adjourn till next week. The bench noted that court holidays will start from next week and the judges will hear cases in SC’s registries. It later adjourned the hearing till Tuesday (today).

The KE is a publicly listed company incorporated in 1913 as the KESC. Privatized in 2005, the KE is the only vertically integrated utility in Pakistan supplying electricity within a 6500 km square territory including Karachi and its adjoining areas.

The majority shares (66.4%) of the company listed in the PSX are owned by KES Power, a consortium of investors. The Government of Pakistan is also a minority shareholder (24.36%) in the company.