ISLAMABAD: Pakistan’s electricity companies suffered a loss of Rs281 billion in the 2023-24 fiscal year due to poor performance, according to a new report from the National Electric Power Regulatory Authority (NEPRA).
Despite a surge in electricity demand, power companies failed to utilise cheaper power plants, exacer-bating the financial strain, media reported.
The report, which assesses the performance of electricity transmission and distribution companies, revealed that these companies failed to meet loss reduction targets once again.
In addition to the financial losses, NEPRA noted that poor recovery rates in the sector led to a Rs380 billion shortfall in the national treasury.
Over the course of the year, more than 3.4 million complaints were registered against the companies, many of them related to poor service and billing issues.
The report also highlighted serious safety concerns, with 140 fatalities occurring in areas under the management of power distribution companies.
K-Electric, which manages electricity distribution in Karachi, reported the highest number of fatalities, with 34 deaths, including 32 civilians and 2 company employees.
NEPRA called for stricter adherence to safety standards, citing a need to address the rising number of accidents and fatalities.
The regulator further stressed the importance of operational improvements to prevent such incidents and reduce financial losses in the sector. –Agencies
