KARACHI: K-Electric (KE) Chief Executive Officer Moonis Alvi has tendered his resignation, the company informed the Pakistan Stock Exchange (PSX) in a formal disclosure on Thursday.
“Syed Moonis Abdullah Alvi has tendered his resignation from the position of Chief Executive Officer (CEO) of K-Electric Limited,” the filing said, submitted in accordance with the Securities Act, 2015, and PSX regulations. The exchange was requested to disseminate the information to all relevant stakeholders.
Confirming the development in a post on X, Mr Alvi said he had decided to step down, calling it an honour to lead an institution central to Karachi’s life and pledging to support a smooth transition.
Last year, the provincial ombudsman for protection against harassment of women had ordered Mr Alvi’s removal and imposed a Rs2.5 million fine following a complaint by a former KE executive. Mr Alvi denied the allegations and challenged the decision.
The Sindh High Court subsequently suspended the ombudsman’s order, a stay that was later extended. Separately, Sindh Governor Kamran Tessori on February 3 set aside the ombudsman’s ruling after hearing both parties, overturning the earlier decision.
