K-Electric CEO Stays in Position Despite Resignation Rumors

K-Electric CEO remains at helm amid rumors.

Speculation about the resignation of K-Electric Chief Executive Officer Moonis Abdullah Alvi was firmly dispelled on Thursday, as confirmations from the Pakistan Stock Exchange (PSX), the Power Division, and company sources affirmed that Alvi continues to lead the company without interruption.

Officials at the PSX stated that no formal communication had been received from K-Electric’s board regarding any change in leadership. “Neither board meeting minutes nor a resignation letter have been submitted,” a senior media manager told Pakistan Observer, noting that such documentation is a procedural requirement for public disclosure in cases of executive changes.

Assurances also came from the Power Division, where officials confirmed that Alvi is scheduled to attend a high-level meeting in Islamabad next week with chief executives of other power distribution companies. The gathering will focus on operational performance and sector-wide reforms, signaling continuity in K-Electric’s management during a period of heightened scrutiny in Pakistan’s energy sector.

The clarification follows days of unverified reports circulating on social and business media platforms suggesting that Alvi had stepped down amid controversy. The rumors persisted despite a recent public statement by the Sindh government and Governor Kamran Khan Tessori, which cleared Moonis Alvi of allegations in a harassment-related case, issuing what officials described as a “clean chit.”

Market participants emphasized that such speculation, if left unchallenged, could negatively impact investor confidence. Farooq Patel, a senior member of the PSX, remarked, “Unfounded rumors about the resignation of senior executives risk undermining shareholder confidence, particularly in a company as widely held and actively traded as K-Electric.”

With approximately 27.61 billion shares issued and significant government and consortium holdings, K-Electric’s stock maintains a large free float, facilitating high daily trading volumes. Analysts note that stocks with strong retail investor participation, like K-Electric, are particularly sensitive to perception, which can often move faster than facts.

Regulators and company-linked institutions now present a unified message: K-Electric’s leadership remains intact, and no formal process indicates otherwise. For investors and stakeholders, the episode highlights the critical role of accurate information in Pakistan’s closely watched power sector.