K-Electric has issued its official statement nearly 30 hours after the provincial ombudsman ordered the removal of its CEO, Moonis Alvi.
Following the decision, Moonis Alvi posted a statement on X (formerly Twitter), but K-Electric initially remained silent. On August 1, K-Electric submitted material information to the Pakistan Stock Exchange, stating that the company has not yet received the ombudsman’s official order. The company also confirmed that the Sindh High Court has issued a stay order on the matter.
K-Electric informed that the Board of Directors is reviewing the situation, and a final decision will be made after legal consultation.
Company Secretary and Chief Risk Officer Rizwan D. Pensnai explained that a female worker was dismissed on October 14, 2020, as a result of being a bad performer. In November 2020, the ex-worker complains about four officials of K-Electric, including the CEO, to the provincial ombudsman. The accused went to the Sindh High court, which gave a go-ahead to the ombudsman. This was also appealed in the Supreme Court which is under hearing.
K-Electric further stated that the ombudsman’s order has also been challenged before the Governor of Sindh and in the Sindh High Court, resulting in a suspension of the decision.
The company reiterated that the provincial ombudsman’s decision to remove Moonis Alvi has not yet been officially received and that the High Court’s stay is under legal review.