KE Board meeting called off due to lack of quorum

ISLAMABAD: A scheduled meeting of K-Electric’s Board of Directors could not be held on Wednesday due to the lack of quorum, halting what appeared to be a government-led effort to review matters concerning the company’s management direction.

The development came just a day after the Sindh High Court granted a stay on Nepra’s multi-year tariff (MYT) determination, a decision widely viewed as a major relief for the utility’s leadership.

According to a notice filed with the Pakistan Stock Exchange (PSX), the meeting, which had been slated for 14:00 hours in Islamabad “to consider matters other than financial results,” was called off after quorum requirements were not met.

Nepra’s determination: SHC stays controversial MYT for KE

Sources told Business Recorder said that government-nominated directors and of KES representatives attended the meeting whereas directors of Al-Jomaih and CEO KE were not present . Their absence effectively prevented the meeting from taking place.

The development is being read within corporate and policy circles as a temporary setback for the government side, which had sought to discuss internal governance matters at the utility. Without KES Power’s participation, those discussions could not proceed.

The Sindh High Court’s recent stay on Nepra’s revised MYT, which had reduced K-Electric’s base tariff, has also bolstered the company’s position, easing regulatory pressure and reinforcing confidence in the current management.

A government insider said that, taken together, the stalled board session and the legal reprieve have, at least for now, left the existing leadership on firmer ground. For the moment, stability appears to have returned to Pakistan’s largest private power utility, though the dynamics between its public and private stakeholders remain fluid.

Copyright Business Recorder, 2025