K-Electric Limited has postponed its Annual General Meeting (AGM) for the fiscal year 2024, earlier scheduled for November 11, citing pending proceedings before the National Electric Power Regulatory Authority (NEPRA) that could affect its financial results.
In a disclosure to the Pakistan Stock Exchange (PSX) on Monday, the company stated that the delay stems from ongoing hearings on several tariff-related matters and review motions filed by the Ministry of Energy, Central Power Purchasing Agency (CPPA), and other parties.
“Pending issuance of the Auditor’s Report, NEPRA has conducted hearings on maintainability of reconsideration requests and review motions related to the generation, transmission, distribution, and supply tariff determinations,” the notice said, adding that decisions on these proceedings were still awaited.
The company noted that its auditors had requested management to provide a representation on the possible outcomes of these regulatory cases and their impact on the financial statements for FY24, which were approved by the Board of Directors on September 23, 2025.
“In light of the extraordinary circumstances surrounding such proceedings and considering that this situation is beyond its control at present, it is not possible for the company to reliably estimate or determine the outcome of NEPRA proceedings or their consequential impact on the FY2024 financial statements. We are therefore unable to issue the audited financial statements at this time,” K-Electric said.
As a result, the company confirmed that the AGM for adopting FY24 financial statements has been postponed until further notice.
“The outcome of NEPRA proceedings may have an impact on the financial results as announced to the PSX, which presently cannot be reliably estimated or determined,” the statement added.
K-Electric said it continues to explore possible next steps and will update the PSX and market participants once the regulatory outcomes are finalized and re-authorization for the issuance of audited statements is obtained.
