K‑Electric Scores Big With NEPRA Approving Rs50bn Write‑Off Win

K-Electric (KE) has won a big fight with the National Electric Power Regulatory Authority (NEPRA) approving a Rs50.01 billion write-off pertaining to the Multi-Year Tariff (MYT) period FY‑2017 to FY‑2023. The ruling, a welcome one for KE CEO Syed Moonis Abdullah Alvi, clears longstanding finance stumbling blocks, even if about Rs26 billion in historical claims linked to pre‑July 2016 tariff blocks were turned down. These costs, attributed to unrecoverable dues from chronic defaulters and validated by KE’s auditors under NEPRA’s stringent criteria, now stand cleared.

Chief Financial Officer Muhammad Aamir Ghaziani confirmed the write-off falls within the approved MYT framework, emphasizing rigorous internal and external verification. During public hearings, voices from Jamaat‑e‑Islami and Karachi’s business community spotlighted concerns over alleged “bogus bills” and excessive claims, prompting robust scrutiny. NEPRA’s ruling requires KE to pass any later recoveries back to consumers via quarterly fuel cost adjustments and mandates annual auditor disclosures.

As KE enters the MYT age for FY‑2024 to FY‑2030, this advancement not only solidifies its financial soundness but also paves the way forward for further growth—while keeping transparency and consumer protection at its heart.