Pesco claims reduction in net loss by Rs21 billion

PESHAWAR: Members of the Board of Directors of Peshawar Electric Supply Company (Pesco) have expressed satisfaction over significant improvement in the company’s financial position during last year, saying the net loss was reduced to Rs81 billion in fiscal year 2022-23, compared to Rs102 billion in previous year 2021-22, reflecting a reduction in net loss amounting to Rs21 billion.

They expressed these views during the 4th HR Legal & other miscellaneous matter committee meeting of the Pesco Board of Directors held at the Pesco headquarters in Peshawar.The members of the Board of Directors including Faizullah Khan, Chairman Board of Directors Pesco, Iftikhar Ahmad Khan, Syed Samar Shah, Hassan Raza Saeed (online), Mushtaq Ahmad Abbasi, Farhan Zafar Jhagra and others were also present in the meeting.

The members of the Pesco Board of Directors highlighted the company’s struggle with a severe deficit of technical personnel, operating at only 44 percent of the sanctioned staff as per yardstick approved in 2002.

Moreover, they noted that 40 percent of the workforce in Pesco are 55 years of age or above and unable to perform physical work on power lines, and have eventually reduced the effective workforce to the tune of 27 percent only.

Nevertheless, Pesco has managed to reduce its losses and improved its recovery during FY 2022-23 and FY 2023-24 (July to April 2024) compared to the previous year.The Pesco Board of Directors have keenly monitored ongoing projects and important measures have been implemented by Pesco management, which include the installation of ABC (Aerial Bundle Cable), implementation of ERP (Enterprise Resource Planning), deployment of Pesco’s GIS (Geographical Information System) infrastructure with mapping of high-tension lines and distribution transformers completed in addition to carrying out geotagging of most of Pesco’s assets.

Additionally, the successful completion of load-shedding-free projects in Mardan and Peshawar Circles, activation of a task force, expansion of AMI (Advanced Metering Infrastructure) meter reading-with over thirty thousand AMR three-phase meters installed and all major commercial and industrial connections billed via an automated online metering system.

Furthermore, the procurement and installation of sixty-five thousand AMR meters are underway in the World Bank program for complete conversion of all three phase connections to the AMI system, alongside a crackdown on electricity theft in the ongoing anti-theft campaign.