KE Delays AGM Amid NEPRA Tariff Uncertainty

K-Electric Limited (KE) has postponed its Annual General Meeting (AGM), earlier set for November 11, 2025. The company said uncertainty over tariff proceedings with NEPRA led to the decision.
In a statement to the Pakistan Stock Exchange (PSX), KE said its board had approved financial statements for the fiscal year ending June 30, 2024. However, the company’s auditors requested further clarification on possible financial impacts of ongoing NEPRA proceedings before completing the final audit.
As a result, KE stated it could not finalize its audited accounts at this stage. Therefore, the AGM stands postponed until further notice, the notice confirmed.

Tariff Dispute

NEPRA is reviewing several motions from the Ministry of Energy, K-Electric, and other parties. These include matters related to generation, transmission, distribution, and supply tariffs, as well as write-off claims.
The regulator has yet to announce its final decisions. According to KE, these outcomes are essential to determine the company’s true financial position for FY2024.
“The ongoing proceedings are beyond our control,” KE said. “It is currently not possible to estimate their impact on financial results.”
In addition, the utility explained that auditors must follow International Standards on Auditing (ISA). This means they need confirmation on potential financial exposure before issuing a final report.
Due to these unresolved issues, KE emphasized that it cannot issue audited financial statements at this time. The power company reaffirmed its commitment to transparency and compliance once NEPRA’s decisions are finalized.