5 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
