Govt bid to oust K-Electric chief fails again
3
ISLAMABAD: The government-appointed director on the K-Electric board has once again failed to secure a leadership change at the power utility, as other directors outmanoeuvred the move and a second board meeting in 10 days collapsed without action.
The latest meeting, held at the company’s head office in Karachi on Thursday, was convened with the same agenda put forward earlier this month, i.e. the removal of CEO Moonis Alvi.
However, the effort faltered as the meeting witnessed serious differences among the government board members and those from the private sector. A majority of board members walked out, effectively blocking the motion.
Company sources told Dawn that, unlike the previous meeting on Nov 5, Thursday’s session met all legal requirements and began with a quorum. Nine of the 10 directors were present, though the federal finance secretary was unable to attend. Proceedings were recorded in line with the procedure.
Motion blocked as majority of board members leave six-minute meeting
However, the meeting lasted only six minutes. As the agenda centred on the CEO’s removal, Mr Alvi did not attend.
After the meeting opened, five directors — Adeeb Ahmad, Mubasher H. Sheikh, Muhammad Kamran Kamal, Saad Amanullah Khan and Shan A. Ashary — excused themselves and left the venue.
This left only the two government nominees — the Secretary of Power and director Javed Kureishi, who had called the meeting — in the room. Board Chairman Mark Gerard Skelton also remained on the premises.
The walkout rendered the meeting unworkable and the attempt to unseat the CEO collapsed for a second time.
Later, K-Electric forwarded its report to the Pakistan Stock Exchange (PSX) titled ‘Board Meeting Other Than Financial Results’.
“In continuation of our intimation dated Nov 7, this is to inform you that the Board of Directors of the Company, at its meeting held on Thursday, 13 November 2025, considered matters other than the financial results of the Company. Please inform the TRE Certificate Holders of the Exchange accordingly,” the company’s statement said.
Published in Dawn, November 14th, 2025
