Latest news with #HimayatullahKhan
Business Recorder
6 days ago
- Business
- Business Recorder
Pesco says losses cut by Rs22bn in FY24-25
PESHAWAR: Peshawar Electric Supply Company (Pesco) claimed to have reduced its financial losses by Rs 22 billion in the fiscal year 2024-25 — the first significant improvement in the last five years. This remarkable turnaround is the result of bold reforms and strong administrative measures under the visionary leadership of Chairman/ BOD Members Pesco, according to a statement issued here. According to official figures, Pesco had been facing consistent financial setbacks over the past several years. Financial losses had escalated from Rs 42 billion in FY 2020-21 to Rs 77 billion in 2021-22, Rs 109 billion in 2022-23, and reached an alarming Rs 142 billion in 2023-24. However, the appointment of the new Board of Directors brought a wave of strategic changes. By the end of FY 2024-25, financial losses were successfully brought down to Rs 122 billion — reflecting a savings of Rs 22 billion as compared to fiscal year 2023-24 for the company. Chairman Pesco Board of Directors, Himayatullah Khan, commended Pesco management for their tireless efforts in steering the company toward financial recovery. 'Despite having only 43% of the required human resource to serve 4.5 million consumers, Pesco employees have continued to go above and beyond to serve their communities,' said the chairman BoD. Moreover, Pesco has achieved a noticeable reduction in transmission and distribution (T&D) losses — bringing the figure down to 36.81 percent in the current fiscal year from 37.99 percent in the previous year. Simultaneously, the overall Aggregate Technical & Commercial (AT&C) losses have been reduced to 41.62 percent during FY 2024-25 in comparison to 42.81 percent in FY 2023-24. Copyright Business Recorder, 2025
Business Recorder
04-08-2025
- Business
- Business Recorder
KP formulates strategy aimed at recovering NHP dues
PESHAWAR: The Khyber Pakhtunkhwa government has made its efforts to recover billions of rupees of arrears due to the federal government under the Net Hydel Profit (NHP). The provincial government, after comprehensive consultations, has finalised several practical proposals, which will be presented in a key meeting with federal authorities this week. In this regard, a meeting of the 'Out-of-Box Solution Committee' was held in the Energy and Power, department, KP under the chairmanship of former provincial minister and chairman of PESCO Board, Himayatullah Khan. The meeting considered various feasible suggestions and recommendations for protecting the province's financial rights and timely recovery of dues in terms of net hydel profits. Moreover, the committee's technical member, Secretary Energy and Power Muhammad Zubair Khan, finance member Himayatullah Khan, and CEO Khyber Pakhtunkhwa Transmission Company and focal Person for NHP, Engineer Malik Luqman Hakeem, while presenting suggestions in the meeting, took the position that if the federation seriously wants a permanent solution to this problem, then the energy projects under the administration of WAPDA located within the provincial limits should be handed over to Khyber Pakhtunkhwa, or the payment of dues should be ensured under the Qazi formula. Finally, the proposals formulated in the consultative meeting have been submitted to the Chief Minister of KP, in light of which it has been decided that the points presented by the province will be formally discussed in a high-level meeting with the federal government next week, so that a dignified and lasting solution to this important national issue can be found. Copyright Business Recorder, 2025
Business Recorder
05-05-2025
- Business
- Business Recorder
PESCO chairman presents three-month action plan
PESHAWAR: Chairman PESCO Himayatullah Khan met with Chief Secretary Khyber Pakhtunkhwa, Shahab Ali Shah, to present a comprehensive three-month action plan aimed at resolving key challenges faced by electricity consumers in the province. He was accompanied by CEO PESCO Akhtar Hamid Khan and other senior officials. During the meeting, Chairman PESCO Himayatullah Khan laid out the strategic components of the plan, which focuses on minimizing load management during the summer months, accelerating recovery from provincial government departments, intensifying anti-theft operations to reduce losses, and implementing other operational improvements. Both Chairman PESCO and Chief Secretary KP agreed on the urgent need to minimize load management through the reduction of transmission and distribution (T&D) losses. The Chief Secretary emphasized the importance of creating a balanced load management plan to ensure fairness and efficiency in electricity distribution. PESCO chairman also voiced serious concerns about the security of PESCO grid stations, particularly during summer, citing incidents where protestors forcibly entered grid stations, disrupting the power supply. In response, the Chief Secretary assured full support from district administrations to safeguard PESCO infrastructure and ensure uninterrupted electricity flow. Copyright Business Recorder, 2025
Express Tribune
16-04-2025
- Business
- Express Tribune
Power Division applauds PESCO for remarkable progress
The Power Division has commended the Peshawar Electric Supply Company (PESCO) for its outstanding performance and significant reforms during the current fiscal year. In a high-level meeting held at the Power Division, the Minister for Power, alongside Secretary Power expressed appreciation to Chairman Board of Directors PESCO, Himayatullah Khan and their team for the strides made by the company in improving operational efficiency and service delivery. He added that if the current trend continues, there is a strong likelihood that the transmission and distribution (T&D) and recovery targets set for Pesco till June 2025 may be achieved. The Minister for Power praised PESCO's leadership for its dynamic and targeted initiatives that have led to a marked improvement in key performance indicators. Particular recognition was given to the robust policy measures implemented under the supervision of Chairman Pesco, which included industrial sector reforms, an aggressive crackdown on power theft, installation of smart and AMR meters, and a wide-reaching revenue recovery campaign. Thanks to these efforts, PESCO has achieved a noticeable reduction in T&D losses - bringing the figure down to 34.73% in the current fiscal year from 36.02% % previous year. Simultaneously, revenue collection surged to an impressive 88.73%, reflecting enhanced operational efficiency and consumer compliance thus improving the financial health of the company. Notably, during March 2025 alone, T&D losses were reduced, and revenue recovery improved by 4% compared to the same month in the previous year. As a result, financial losses dropped significantly to Rs8.06 billion in March 2025 from Rs12.06 billion in March 2024 - a testament to the effectiveness of reforms. It was also highlighted in the meeting that The Chairman of the Board of Directors PESCO, Himayatullah Khan, has placed a strong emphasis on implementing industrial reforms to ensure a reliable and uninterrupted power supply to the industrial sector. These initiatives are set to significantly increase the energy demand of PESCO while driving industrial growth and boosting the overall economy of the area. Further emphasizing infrastructure development, PESCO has actively pursued the construction of new grid stations, energization of 11KV feeders, and strategic area planning. This includes separating good-paying areas and industrial consumers from general consumers to optimize supply and revenue outcomes. In a technological leap, PESCO has introduced Automated Meter Reading Infrastructure to eliminate manual meter reading, ensuring accurate billing and minimizing human error. These advancements underscore the company's commitment to modernization and transparency.
