K-Electric PLL payment of Rs5.729bn proposed under protest
Karachi’s utility offers nine monthly instalments of Rs636.5 million, asking Pakistan LNG Limited to drop standby letter of credit encashment and waive late payment surcharge while RLNG pricing stays unresolved.
K-Electric has proposed a Rs5.729 billion payment to Pakistan LNG Limited in nine monthly instalments under protest.
Each instalment would be Rs636.5 million from October 2026 to June 2027, tied to May–June 2026 spot LNG differentials.
The offer seeks withdrawal of SBLC encashment demands on Habib Bank and Faysal Bank and a waiver of late payment surcharge.
The Sindh High Court on 19 October 2026 restrained coercive action, including SBLC encashment, after PLL’s 16 October demands.
KE says a Unified/Weighted Average RLNG Pricing Mechanism agreed in July 2026 has not yet been implemented and claims large pending credits.