NEPRA petition pursuit delays K-Electric financial result for 1HFY24

MG News | February 28, 2024 at 12:20 PM GMT+05:00

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February 28, 2024 (MLN): As K-Electric Limited (PSX: KEL) continues to pursue the National Electric Power Regulatory Authority (NEPRA) for the timely conclusion of its petitions for the award of MYT post-June 2023, the company was unable to finalize financial statements for the half-year ended December 31, 2023, within the stipulated timeline.

This information was disseminated by the company through a notice issued to PSX today.

KEL has further stated in the notice that it has already apprised both of its apex regulators, that is, NEPRA and the Securities and Exchange Commission of Pakistan (SECP) on the subject matter.

"The company has no intention, whatsoever, to frustrate or breach any applicable law or regulatory framework and shall make all the efforts to comply with the requirements in the best possible manner, within its control," KEL noted.

Moreover, the company remains engaged with NEPRA for the earliest determination of MYT.

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