Amid a row with the power division, chief executive officer (CEO) K-Electric (KE) Moonis Alvi has resigned.

Power division had tasked government nominated board members to fire the CEO KE. They had made couple of attempts to sack CEO KE but failed due to support of some board members he had cherished.

Alvi had served for 18 years in the company which included his tenure as CEO for eight years.

His resignation is also result of tussle between Saudi shareholders and Shaheryar Chishty, the share holder of KE who had also fought legal battle.

Power division is said to put its weight to one party in KE shareholdings and therefore, had launched a move to terminate Alvi.   

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KE is the first entity which was privitised and had shown tremendous performance on account of recovery of electricity bills and reduction in losses compared to other power distribution companies (Discos).

Alvi had joined KE in 2008 and serviced on different positions which included company secretary, and head of treasury.

He had also faced a wrath of Special Investment Facilitation Council (SIFC) which had played a key role in striking a deal between Saudi business group and Shaheryar Chishty.

Soon after a deal, the existing Saudi Shareholders had written a letter to Pakistan Stock Exchange that Shahryar Chishti did not have shares of KE.

Ali had announced his resignation on his X account.

After 18 years with K-Electric, including almost 8 as CEO, I have decided to step down.

It has been an honour to serve an institution so central to Karachi’s life, alongside some of the most resilient and committed professionals I know. I will support a smooth transition.

— Moonis Alvi (@alvimoonis) February 6, 2026