The Ministry of Energy (Power Division) has accelerated the privatisation process of Lahore Electric Supply Company (LESCO), while the company has sent the balance sheet and details of assets to the power division, Pakistan Today learnt. However, in June this year, LESCO implemented the privatisation process and decided to hand over the distribution of electricity bills to the private sector. However, the official added that the balance sheet has been sent to the power division by LESCO which contains not only the details of the company’s accounts but also the details of the assets. “The company has also sent the details of arrears of WAPDA, NTDC, PEPCO and all these departments owed RS 14 billion to LESCO. Similarly, details of subsidies received by the company and cases pending in the courts have also been sent to the Power Division.

Source: Pakistan Today September 09, 2021 18:00 UTC