DISCOs incurred Rs337 billion loss in FY2022
- By Aleem Malik -
- Jan 04, 2024
ISLAMABAD: Electricity distribution companies (DISCOs) incurred a loss of a whopping Rs337 billion in Fiscal year 2022, ARY News reported.
According to an official document, the DISCOs incurred more losses than other government entities in Pakistan in FY-2022.
Peshawar Electric Supply Company (PESCO) suffered a loss of Rs102.1 billion in FY2022, while Quetta Electric Supply Company (QESCO) incurred a loss of Rs76-42 billion.
Furthermore, Hyderabad Electric Supply Company (HESCO) suffered loss of Rs54.41 bln. The Lahore Electric Supply Company (LESCO), Sukkur Electric Supply Company (SEPCO), Multan Electric Supply Company (MEPCO) and Tribal Electric Supply Company (TESCO), suffered losses of Rs30.2 bln, Rs29.4 bln, Rs22.81 billion and Rs21.15 billion, respectively.
Read more: OGDCL earned Rs133.78bln profit in FY2022: report
Earlier, the finance ministry released a report that showed Oil and Gas Development Limited’s (OGDCL) profit crossed Rs133 billion in FY2022, as compared to Rs91 bln in 2021.
The finance ministry released a detailed report regarding profit-making entities in FY2022. According to details of profit-making entities in 2022, Pakistan State Oil’s (PSO) earnings rose to over Rs86.22 in 2022 as compared to over Rs29bln.