K-Electric Provides Update on NEPRA Review Decisions and Court Proceedings
K-Electric Limited has disclosed an important legal and regulatory development concerning its appeals against certain review decisions issued by the National Electric Power Regulatory Authority (NEPRA).
According to the company’s disclosure dated April 7, 2026, K-Electric informed the Pakistan Stock Exchange and the Securities & Exchange Commission of Pakistan about an order issued by the Honorable Sindh High Court, Karachi. The disclosure was made under Sections 96 and 131 of the Securities Act, 2015 and the relevant regulations of the Pakistan Stock Exchange.
Background of the Case
The matter relates to constitutional petitions filed by K-Electric before the Sindh High Court in November 2025. The company had challenged certain orders issued in connection with NEPRA review decisions dated October 20, 2025.
The disclosure states that K-Electric had filed Constitutional Petitions D-5384 of 2025, D-5386 of 2025 and D-5387 of 2025 before the Sindh High Court. The company was seeking relief concerning the effect of the impugned NEPRA review decisions.
Court Directs Matter Toward Appellate Tribunal
The company said that the Sindh High Court, through an order dated April 2, 2026, disposed of the petitions filed by K-Electric.
According to the disclosure, the court directed K-Electric to pursue its remedies before the NEPRA Appellate Tribunal, which had recently become functional. The company has filed appeals under Section 12-G of the NEPRA Act, 1997, challenging the relevant decisions.
The court directed the Tribunal to decide K-Electric’s pending appeals within a period of three months.
Interim Order to Remain in Force
An important part of the court’s direction concerns the interim order previously issued in the matter. K-Electric disclosed that the Sindh High Court directed that the earlier interim order would remain in force and continue until the final decision is reached by the Tribunal in the pending appeals.
This means that, according to the company’s disclosure, the existing interim arrangement will continue while the NEPRA Appellate Tribunal considers and decides the appeals.
Regulatory Disclosure
K-Electric made the disclosure to fulfill its obligations under Pakistan’s securities and stock exchange regulations. The letter was addressed to the relevant officials at the Securities & Exchange Commission of Pakistan and Pakistan Stock Exchange, requesting that the information be disseminated to the TRE Certificate Holders of the Exchange.
The disclosure was signed by Rizwan Pesnani, Chief Risk Officer & Company Secretary of K-Electric Limited. The company’s registered office is identified in the document as KE House, 39/B, Sunset Boulevard, Phase II, Defence Housing Authority, Karachi.
What Happens Next?
The next stage of the matter will take place before the NEPRA Appellate Tribunal. K-Electric has already filed the relevant appeals, and the Sindh High Court has directed that they be decided within three months.
For stakeholders, the key development is that the dispute over the NEPRA review decisions is moving into the appellate process, while the previously issued interim order remains in effect until the Tribunal reaches its final decision.
