K-Electric initiates legal battle against revised MYT decision

K-Electric has initiated legal proceedings against the revised decision on its Multi-Year Tariff (MYT), filing petitions in both the Sindh High Court and the Appellate Tribunal of the National Electric Power Regulatory Authority (NEPRA).

According to a letter issued by K-Electric to the Pakistan Stock Exchange (PSX), K-Electric has submitted five separate petitions before the Sindh High Court challenging the revised MYT determination.

The letter stated that the court, on November 4, granted a stay order on K-Electric’s applications against the National Electric Power Regulatory Authority (NEPRA). 

Prior to approaching the Sindh High Court, K-Electric had already filed an appeal before NEPRA’s Appellate Tribunal under Section 12-G of the NEPRA Act against the revised MYT decision.

However, due to the tribunal’s current non-functional status, the company opted to seek relief from the Sindh High Court.

The company maintained that its legal actions are in line with the provisions of law and are aimed at ensuring a fair and transparent resolution of the matter.

Reporter: Ashraf Khan