PESHAWAR: Peshawar Electric Supply Company Limited (Pesco) has demonstrated impressive financial growth during the first quarter of the Fiscal Year 2024-25, marking a substantial turnaround in its financial position.
For the period July to September 2024, Pesco recorded a net profit of Rs. 2.4 billion, a remarkable recovery from the Rs.13.5 billion loss it faced during the same period of last year 2023-24, according to an official communiqué here.
This notable improvement in Pesco’s financial performance has been attributed to enhanced operational efficiency and the proactive policy guidance provided by the Pesco Board of Directors (BOD).
The Chairman of the Board of Directors Pesco, Himayat Ullah Khan, has placed a strong emphasis on implementing industrial reforms to ensure a reliable and uninterrupted power supply to the industrial sector.
These initiatives are set to significantly increase energy demand of Pesco while driving industrial growth and boosting the overall economy of the area.
Also the company’s strategic focus on streamlining operations, reducing losses, and improving revenue collection has played a key role in achieving this positive financial outcome.
The turnaround reflects Pesco’s commitment to strengthening its financial stability and ensuring a more stable and reliable electricity supply to its customers.
Copyright Business Recorder, 2024
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