ISLAMABAD: The Power Division has claimed that losses of power Distribution Companies (Discos) have declined by over 22 percent during the first quarter of current fiscal year. According to Power Division, Discos suffered a loss of Rs 591 billion on account of line losses and less recovery during last fiscal year 2023-24.

However, losses stood at Rs 239 billion in first quarter of the current fiscal year 2024-24 as compared to Rs 308 billion during the corresponding period of last year, showing an improvement of Rs 69 billion - a substantial reduction in losses.

Discos’ sell-off: SIFC to play key role

In a statement Power Division said that the recovery of Discos also witnessed a visible upward trend at 91 per cent as compared to 84 per cent during the first quarter of current fiscal year.

Similarly, the circular debt witnessed only Rs 11 billion increase in last four months, ie, July-October 2024-25 of the current fiscal year as compared to Rs 301 billion increase during the period of July to October 2023.

Copyright Business Recorder, 2024