K-Electric delays 9MFY24 financial statement amid MYT approval hurdles

News Image

By MG News | April 29, 2024 at 10:38 AM GMT+05:00

0:00

April 29, 2024 (MLN): Due to the absence of approved MYT granted post June, the financial statements of K-Electric Limited (PSX: KEL) for the nine months period ended on 31 March 2024 cannot be finalized within the stipulated timeline.

KEL communicated this information through its most recent filing on the Pakistan Stock Exchange (PSX).

It further stated that the company continues to engage with the National Electric Power Regulatory Authority (NEPRA) to ensure a timely conclusion.

KEL is a regulated entity under the Regulation of Generation, Transmission and Distribution of Electric Power Act, 1997 (NEPRA Act) and prepares its financial statements in accordance with the tariff determined by the NEPRA.

To note, KEL was awarded an integrated Multi-Year Tariff (MYT) by NEPRA for a control period of 7 years that expired in June 2023.

Hence, due to the absence of the MYT adjustment by NEPRA, the company has postponed the release of its financial statements for 9MFY24.

It may further be noted that KEL has already apprised both of its apex regulators, that is, NEPRA and the Securities and Exchange Commission of Pakistan (SECP) on the subject matter.

Copyright Mettis Link News

Related News

Name Price/Vol %Chg/NChg
KSE100 132,576.99
161.03M
-0.62%
-826.20
ALLSHR 82,983.68
903.36M
-0.25%
-204.38
KSE30 40,358.80
56.86M
-0.72%
-292.66
KMI30 190,727.32
67.92M
-0.71%
-1356.60
KMIALLSHR 55,698.48
457.08M
-0.27%
-149.22
BKTi 36,242.06
11.15M
-0.50%
-180.82
OGTi 28,323.42
10.71M
-0.40%
-114.19
Symbol Bid/Ask High/Low
Name Last High/Low Chg/%Chg
BITCOIN FUTURES 109,705.00 110,265.00
108,625.00
490.00
0.45%
BRENT CRUDE 70.34 70.71
69.61
0.19
0.27%
RICHARDS BAY COAL MONTHLY 97.50 0.00
0.00
1.45
1.51%
ROTTERDAM COAL MONTHLY 108.00 109.00
107.95
0.90
0.84%
USD RBD PALM OLEIN 998.50 998.50
998.50
0.00
0.00%
CRUDE OIL - WTI 68.57 68.94
67.70
0.24
0.35%
SUGAR #11 WORLD 16.50 16.61
16.08
0.37
2.29%

Chart of the Day


Latest News
July 09, 2025 at 05:27 PM GMT+05:00

Gold price in Pakistan falls Rs3,000 per tola


July 09, 2025 at 05:26 PM GMT+05:00

UBL crowned top performing Primary Dealer in FY25


July 09, 2025 at 05:11 PM GMT+05:00

SECP approves name change for Secure Logistics



Top 5 things to watch in this week

Pakistan Stock Movers
Name Last Chg/%Chg
Name Last Chg/%Chg