K-Electric has informed Pakistan Stock Exchange (PSX), Securities and Exchange Commission Pakistan (SECP) and the relevant shareholders that it is currently making all efforts to comply with SECP order of holding an Annual General Meeting (AGM) as soon as possible.
However, company mentioned that without the final determination of National Electric and Power Regulatory Authority (NEPRA) regarding the Multi Year Tariff (MYT) after the date of 1st July, 2017 to be applicable on the company in order to calculate its topline revenues, it is not possible for the company to prepare its accounts.
The notice issued by the company mentioned that, it “cannot just prepare the financial statements on the basis of the estimation in the absence of basic topline revenue number”.
The company has therefore informed all the parties that, “we assure our valued shareholders that as soon as the final MYT is notified, AGM will be held without any delay after completion of stipulated regulatory requirements.”
