KARACHI: The Pakistan Stock Exchange (PSX) has instructed K-Electric Limited (KE) to file its outstanding annual financial statements and hold Annual General Meetings (AGMs) for FY24 and FY25 no later than March 31, 2026. The advisory follows KE’s earlier disclosure on October 20, 2025, regarding delays linked to ongoing tariff-related proceedings.
According to KE’s latest notice, PSX on December 2 advised the company to transmit its audited financial statements for the fiscal years ended June 30, 2024, and June 30, 2025, and convene the corresponding AGMs within the specified deadline. KE stated it is committed to meeting all regulatory requirements and will take all necessary steps within its control to ensure compliance.
KE had postponed its AGM originally scheduled for November 11, 2025, citing uncertainty arising from multiple tariff proceedings before the National Electric Power Regulatory Authority (NEPRA). Although KE’s Board of Directors approved the FY24 financial statements in September, the company’s auditors later sought management representation on the potential financial impact of pending NEPRA decisions before issuing their final audit report.
NEPRA has held hearings on reconsideration and review motions filed by the Ministry of Energy, K-Electric and other stakeholders concerning generation, transmission, distribution and supply tariffs, along with write-off claims. KE noted in October that decisions on these matters remain pending.
Given the unresolved proceedings, KE stated it cannot reliably determine the potential implications for FY24 accounts and is unable to issue audited financial statements until the outcomes are known.
