Karachi: K-Electric Limited has disclosed that the National Electric Power Regulatory Authority (NEPRA) has granted approval for the Multi Year Tariff (MYT) for its Supply segment covering the fiscal years 2024 to 2030. This information was released as part of a mandatory disclosure under Section 96 and Section 131 of the Securities Act, 2015, and Clause 5.6.1(a) of the Rule Book of Pakistan Stock Exchange Limited.

The approval from NEPRA follows K-Electric's application submitted on December 27, 2023, in accordance with Rule 3(1) of the NEPRA (Tariff Standards and Procedure) Rules, 1998. The company is currently in the process of evaluating and reviewing NEPRA's decision in detail. K-Electric also noted that it will exercise any available remedies if necessary, as per statutory provisions.

In addition, the decision on the Motion for Review of the approved Investment Plan for the MYT Period is under determination by NEPRA. According to information available from the Pakistan Stock Exchange (PSX), K-Electric will update the exchange accordingly upon NEPRA's decision on the Motion for Review.

The company has ensured that this disclosure was duly authorized and signed by the appropriate personnel, and it has been communicated to the TRE Certificate Holders of the Exchange as required. The designated market category remains unchanged as the company continues to operate within the regulatory frameworks established by NEPRA and the Pakistan Stock Exchange.