Karachi (12-11-2025) – The meeting of K-Electric’s Board of Directors scheduled for Thursday has gained significant importance regarding the change of the CEO. According to sources, three candidates have been shortlisted for the new CEO position, all of whom are from Karachi and have extensive experience in the energy sector. Board sources indicate that Asia Pak has decided not to present its own candidate for the CEO position. It is expected that, following Asia Pak’s decision, the Pakistan government will put forward a candidate, who will likely receive Asia Pak’s unconditional support. According to sources from Asia Pak, they will support the candidate that the government believes is best for the improvement of K-Electric and Karachi.
In the previous meeting, the CEO, CFO, and CDO positions could not be resolved due to a lack of quorum. The current number of board members at K-Electric stands at 10, with three members from the government, two from Asia Pak, one from CEO Muneeb Alvi, and three from Al Jumia Group. In the last Board of Directors meeting, only five directors attended, including three government representatives and two from Asia Pak. Due to the absence of five board members, the quorum was not met, and the meeting was adjourned. If the quorum is not met again on Thursday, the meeting may be postponed once more. According to the SECP regulations, a decision will be made based on the board members present at the third meeting.
In the current composition of the board, the three votes from the government have become highly significant. For the CEO change, five votes could come from the government and the Asia Pak group. The remaining five votes, including that of the CEO, will not be cast by the CEO during the voting process. As a result, only four votes will remain, making the CEO’s change likely. The appointment of a new CFO will also be finalized during the meeting on Thursday. Sources suggest that the decision regarding the CFO has already been made, and a decision will also be made regarding the Chief Distribution Officer (CDO) during the same meeting.
