Karachi: The upcoming K-Electric Board of Directors meeting, set for Thursday, is expected to play a pivotal role in determining the future leadership of the energy company. With three candidates shortlisted for the CEO position, all hailing from Karachi and possessing substantial experience in the energy sector, the meeting holds significant implications.

According to insiders, Asia Pak has opted not to nominate its own candidate for the CEO role. Instead, the group is anticipated to back a candidate proposed by the Pakistan government. Asia Pak sources confirmed their support for the government's choice, citing a shared interest in enhancing K-Electric's performance and the broader energy landscape in Karachi.

In the previous board meeting, decisions regarding the CEO, CFO, and CDO positions were hindered by the absence of a quorum. The board currently comprises 10 members: three representing the government, two from Asia Pak, one from CEO Muneeb Alvi, and three from the Al Jumia Group. Only five directors had attended the last meeting, resulting in an adjournment due to the lack of quorum. If Thursday's meeting also fails to meet quorum requirements, it might be postponed again. Per SECP regulations, any decisions in a third meeting would proceed with the members present.

The three government votes are crucial in the current board composition. With Asia Pak's anticipated support, the government could secure five votes, facilitating the CEO's replacement. The outgoing CEO, Muneeb Alvi, will not vote, leaving four votes on the opposing side and making the CEO change likely. Additionally, the meeting is expected to finalize the appointment of a new CFO and address the CDO position, with sources indicating that the CFO decision is already settled.