The Board of Directors (BoD) of Peshawar Electricity Supply Company (PESCO) has approved a Rs 5.157 billion Operation and Maintenance Budget of PESCO for the financial year 2008-09. 44th meeting of the board was held with chairman PESCO Wing Commander Jamshed Savul (Retd) at Wadpa House Peshawar.
Anwar-ul-Haq Yousafzai Secretary BoD presented comprehensive report about the minutes of 43rd meeting and after detailed discussion Board of Directors approved minutes with minor changes. The board also gave nod to the accounts of the company for the financial year 2007-08 and emphasised that until and unless the bringing of the line losses to 26 percent the distribution company may not be able to come out of the vicious circle of losses.
The meeting welcomed the appointments of Chaudhry Abdul Qadeer and Anwar-ul-Haq as new Directors of the board and hailed the services rendered by Ahmad Nawaz Mughal out going director of the company. Chief Executive Pesco Mohammad Qasim Khan briefed BoD on the state of the line losses of the company and developmental schemes initiated by it. He said that the recovery of PESCO has increased while efforts are being made to reduce line losses also.
The meeting hailed increase in recovery and directed to further increase by at least 10 percent and also decreases line losses. The BoD asked PESCO management that in order to reduce line losses, accelerate the drive against power theft besides expediting the recovery to curtail the losses of the company.
Moreover, the BoD emphasised on Pesco employees to utilise all their efforts to achieve the targets set by company besides asking the company to provide better services to the customers at their doorstops. Board of Directors was told that million of rupees are being spent on maintenance and looking after the system, new Grid Stations and installation of high power transformers to improve the PESCO's distribution system which will help to resolve the consumer's problem.
Earlier, Anwar-ul-Haq Yousafzai Finance Director PESCO presented the Budget for the year 2008-09. The BoD after comprehensive discussion approved Rs 5157 million Operations and Maintenance budget for the financial year 2008-09. The Board gave approval for revision of Pay Scales and 20 percent increase in pension and increase in House acquisition of PESCO employees, as already announced by Federal Government.
Furthermore, the board also approved a number of technical and managerial matters. Afterwards the AGM of PESCO BoD was also held during which a number of matters were discussed at length for putting the PESCO on the track of success, prosperity and profit. AGM also approved the appointment of Auditors for the current year.
Chaudhry Abdul Qadeer, Tahir Basharat Cheema, Anwar-ul-Haq, Dr Mir Hatam, Dr Maqbool Khan members and PESCO's Senior Management, Chief Executive PESCO Muhammad Qasim Khan, Human Resources and Admin Director Imtiaz Ahmad Tanoli, Chief Engineer (Operation) Jehanzeb Khan, Chief Engineer (Technical) Nawaz Ali Khan, Chief Engineer (Customer Services) Rustam Zad Gul, Chief Engineer (T and G) Muhammad Wali Khan and Finance Director and company secretary Anwar-ul-Haq Yousafzai also attended the meeting.