K-Electric Tariff Cut Sparks $2B Arbitration Crisis

The lights flickered in Rashid Ahmed’s textile factory in Karachi’s SITE industrial area on a sweltering October afternoon. Not from another power cut—those he’d grudgingly accepted as the cost of doing business in Pakistan—but from uncertainty. News had just broken that the National Electric Power Regulatory Authority (NEPRA) had slashed K-Electric’s tariff by Rs7.6 per…