Who is Ali Sheikhani who offered to buy K Electric?

 Who is Ali Sheikhani who offered to buy K Electric?

Ali Shekhani's name is in the news after announcing the purchase of K Electric, the company that supplies electricity to Karachi, the capital of Pakistan's Sindh province.

The video of Ali Shekhani's announcement to buy K Electric was shared on the Facebook page of 'JDC Foundation', a charity organization in Karachi, in which he announced the purchase of K Electric.

Apart from the announcement of buying the electricity company, Ali Shekhani also talked about the insecurity in the city of Karachi and said that people are shot dead for not giving mobile phones in the city.

He further said that 'Citizens of Karachi are worried and fed up with the torment of load shedding, they want to buy the electricity company to provide them security and comfort.'

Who is Ali Sheikhani?

According to information available on LinkedIn, Ali Shekhani is the CEO of Shekhani Group of Companies.

Ali Shekhani was born on October 15, 1986 in North Nazimabad area of ​​Karachi. He moved to America at the age of 19 where he initially took a job at a gas station.

He holds a degree in Criminal Justice from the University of Houston and a T-Coll license.

Ali Shekhani had told in a podcast that he used to work in a gold shop in Karachi's Sadar area before moving to America.

After moving to the US, he has also spent time in the US police. Ali Shekhani's net worth is estimated to be around $600 million.

What is Sheikhani Group?

Ali Shekhani, just 12 years ago in the year 2012, in the US state of Texas, created a group of companies in the name of Shekhani Group consisting of various businesses.

The group now has businesses in other countries besides the US and Pakistan.

According to the group's website, the Shaikhani Group has 40 companies doing business in the US and Pakistan, while the group also owns 250 rental shop outlets.

Two thousand employees are working in these companies, while young businessmen have also invested in gas stations, petrol pumps, solar and other sources of energy.

Apart from this, Sheikhani Group also deals in other real estate activities including construction of shopping plazas, however there is no information available on the website regarding the group's assets.

Can Ali Sheikhani buy electric?

Ali Shekhani offered to buy K Electric after the issue of increasing electricity problems in Karachi was raised on social media, but the question is also being raised whether he has the capital to buy K Electric?

Zohaib Mansha, a journalist based in Karachi, while talking to Urdu News, says that Ali Shekhani's offer to buy K Electric will be called a publicity stunt or a way to gain cheap fame. Because neither K Electric has announced that it is being sold nor can K Electric be bought.

If you look at the network of Ali Shekhani and on the other hand, there is a huge gap between them. Ali Shekhani's net worth is around 60 million to one billion dollars, while K Electric's assets are worth more than two billion dollars.

Continuing his speech, he added that this publicity stunt is also because Ali Shekhani calls himself in business and is proposing to buy a company without getting the basic information while K Electric is already There is a 20-year contract.'

"A businessman doing business in a country like the US is announcing on a social platform to buy a company, that means how can you buy if you don't know the basic rules."

According to Shehbaz Rana, a journalist who reports on economic affairs, there is a procedure for privatization of public institutions. A majority of K Electric's shares have already been sold, with the government holding very little.

A private company can deal. The Chinese also had a deal, for which NOC is required. It is a consumer company so there is a question of protection. Even the private shareholders of K Electric cannot sell their shares to anyone without the government's consent.

He said that anyone can make an offer, but for its purchase, companies need NOC from the relevant government agencies. Even Shanghai Electric could not get that NOC.

Shehbaz Rana said regarding the price of K Electric that 'it cannot be said about its price. Yes, however, the shares they wanted to buy in the Shanghai Electric deal, their value at that time was 7 billion 10 million dollars, which later came to 4 billion 10 million dollars.