Karachi: K-Electric Limited has announced that the National Electric Power Regulatory Authority (NEPRA) has approved the Multi-Year Tariff (MYT) for the company's Transmission and Distribution Network segments, covering the fiscal years 2024 to 2030. This disclosure was made in compliance with the Securities Act, 2015, and the Rule Book of the Pakistan Stock Exchange Limited, as outlined in a communication submitted by K-Electric.

According to information available from the Pakistan Stock Exchange (PSX), the approval follows K-Electric's application to NEPRA on December 27, 2023, for the MYT pursuant to the Investment Plan approval for the MYT Period. The company is currently reviewing NEPRA's decision in detail and may consider further action as per statutory provisions if deemed necessary.

While the MYT for the Transmission and Distribution Network has been approved, K-Electric's application for the MYT regarding the Supply segment and a Motion for Review of the approved Investment Plan for the same period is still under NEPRA's determination. These approvals are crucial for the preparation of the company's financial statements beyond June 30, 2023. K-Electric has assured that the Pakistan Stock Exchange will be updated once the tariffs and the Motion for Review are approved.