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The Board of Directors of Karachi Electric Supply Company (KESC) has announced the appointment of Waqar H. Siddique as the new Chairman of KESC. According to a press release issued by KESC on Wednesday, he succeeds Abdulaziz Hamad Aljomaih, who was appointed Chairman upon privatisation of KESC in November 2005.

Siddique brings with him twenty five years career track record in finance, business operations and private equity, both in Pakistan and across the Middle East, North Africa, South Asia. He is currently an Executive Director at Abraaj Capital in UAE, where he heads the company's Portfolio Management Group.

A KESC spokesperson says, "Siddique brings with him a rich business experience, including in Pakistan, and has given success to a number of business enterprises across the region. He has a significant "distress-turnaround" experience and is a highly respected figure in business in the region, synonymous with the success of various enterprises and strategic investments and additionally, he is also committed to Karachiites, being both born and bred here".-PR

Copyright Business Recorder, 2009


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