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Privatization of KESH necessary

3. June 2008

International financial institutions in Albania such as the World Bank and the International Monetary Fund have requested an urgent privatization of the Albanian Power Corporation (KESH) as a result of the crisis that this corporation finds itself in. The distribution power unit of this company is the weakest point. During 2007, the corporation was on the verge of financial collapse as a result of the high cost of power imports and the losses and abuses on the power network which amounted to 160 million euros. It has been estimated that more than 35% of the energy which is thrown in the network is either stolen or is lost as a result of amortization.