Power companies cause Rs196 billion loss to national exchequer

Electricity companies have caused a loss of more than Rs196 billion to the national exchequer in one year, reported 24NewsHD TV channel on Friday.

According to Auditor General of Pakistan's Audit Report 2023-24, losses of eight power companies exceed target in 2022-23.

NEPRA had fixed a limit of losses for power companies ranging from 8.84 to 20.16 percent, the report said.

Report further says, Peshawar Electric Supply Company (PESCO) caused a loss of Rs133 billion to national exchequer while Sukkur Electric Power Company (SEPCO) lost Rs19.17 billion and Lahore Electric Supply Company (LESCO) lost Rs14.954 billion.

Moreover, Faisalabad Electric Supply Company (FESCO) has lost Rs6.29 billion while Multan Electric Supply Company (MEPCO) has lost Rs3.80 billion, report says.

Report said Gujranwala Electric Power Company (GEPCO) made a loss of over Rs2.87 billion in one year.

Overloaded transmission lines and long feeders account for high losses, report revealed.

Report indicated that damage targets set by National Electric Power Regulatory Authority (NEPRA) are unrealistic.

Reporter: Waqas Azeem