PESHAWAR: The Pakistan Eclectic Supply Company’s (Pesco) annual deficit has reduced by Rs16 billion in fiscal year 2014-15 from the previous year’s Rs34 billion.
The line losses have been reduced by 2 per cent and recovery increased by 2 per cent for year 2015-16. This was revealed in the Pesco Board of Director’s 102nd meeting held, under the chairmanship of BoD Chairman Malik Muhammad Asad Khan at Wapda House Peshawar. Company Secretary Yasar Naseem presented Minutes of 101st BOD meeting which were approved after detailed discussion.
The meeting discussed the measures taken to make Pesco a profitable entity. The BoD chairman said, “We have to put Pesco on the path of success and profitability and suggested new ideas and proposals in this regard.”
Asad Khan said that as per inquiry report Pesco is not responsible for Ghazi school incident, however he ordered to replace Electricity Lines of Ghazi School. He said that co-operation and assistance of local body members may also be sought in installation, repair, theft and change of transformers.
The BoD also approved the accounts for the year 2014-15 and okayed purchase of 9 power transformers, 137,742 single phase meters.
Pesco Chief Executive Syed Hassan Fazil gave a comprehensive presentation to the board on the efforts, to bring the company out of losses. A number of other managerial and administrative matters on the agenda were also discussed.
