ISLAMABAD: The Auditor General of Pakistan (AGP) has revealed that 10 power distribution companies caused a financial loss of Rs276.81 billion to the national exchequer in the financial year 2023–24.
According to details, the report highlighted the failure of these companies to reduce transmission and distribution losses. Peshawar, Lahore and Quetta Electric Supply Companies were identified as the top contributors to the loss.
Peshawar Electric Supply Company (Pesco) recorded the highest loss, amounting to Rs97.17 billion. Lahore Electric Supply Company (Lesco) exceeded the loss target set by Nepra by Rs47.63 billion, while Quetta Electric Supply Company (Qesco) followed with losses of Rs36.75 billion.
The report stated that revolving credit rose by more than Rs235 billion owing to poor recovery of electricity bills from consumers. Only Rs3,885 billion was collected against a recovery target of Rs4,081 billion.
Transmission and distribution losses rose by 6.54 per cent points to reach 18.31 per cent, against Nepra’s target of 11.77 per cent. Government investment of Rs163 billion failed to yield any measurable improvement.
Sukkur Electric Power Company (Sepco) caused an additional loss of Rs29 billion to the national exchequer. Hyderabad Electric Supply Company (Hesco) was responsible for a loss of Rs23.18 billion, and Multan Electric Power Company (Mepco) recorded a loss of Rs22.66 billion.
Losses from Gujranwala stood at Rs9.22 billion, Islamabad at Rs5.87 billion, and Faisalabad at Rs5 billion.
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