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Saudi Investors Seek Legal Action Over Alleged Financial Mismanagement in Karachi Electric

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Investors from Saudi Arabia who have invested in Karachi Electric have filed a writ petition with the Islamabad High Court (IHC), urging action against the perceived inaction of the Federal Investigation Agency (FIA). T

he investors, represented by White Crystals Limited, allege potential misappropriation of Rs10.5 billion of foreign investors’ funds, specifically the sale proceeds from an investment firm in Pakistan.

White Crystals Limited, a subsidiary of the Saudi conglomerate Aljomaih Group, is now seeking a judicial order to compel the FIA to initiate a thorough investigation into the matter.

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