Company Overview of Faisalabad Electric Supply Company Limited
Faisalabad Electric Supply Company Limited operates as an electricity distribution and supply company in Pakistan. The company generates power from water and power development authority and serves customers in the central region of Punjab. Faisalabad Electric Supply Company Limited was founded in 1998 and is based in Lahore, Pakistan.
325 Wapda House
Shahrah -e- Quaid -e- Azam
Founded in 1998
Key Executives for Faisalabad Electric Supply Company Limited
Compensation as of Fiscal Year 2015.
Faisalabad Electric Supply Company Limited Key Developments
Faisalabad Electric Supply Company Issues Shutdown Program
Sep 2 15
The Faisalabad Electric Supply Company on September 1, 2015 issued shutdown program for necessary repair, maintenance and expansion of electricity lines. According to the program issued by the company, power supply from Five-Star feeder emanating from 132-KV Bandala grid station, Meema, Anjum and Rafi Cotton feeders originating from 132-KV Shahkot grid station will remain suspended from 9:00 a.m. to 3:00 p.m. while Bagaywala feeder emanating from 132-KV Nishatabad grid station will observe shutdown from 8:00 a.m. to 2:00 p.m. on September 2, 2015.
Govt Reportedly Delays Privatization Of Power Distribution Firms
Jul 6 15
The government has reportedly pushed back its privatization plan for all power distribution companies by almost a year, raising doubts about plans to privatize the loss-making state enterprises, a report in the local media said on July 4, 2015. Against the original plan to sell Faisalabad Electric Supply Company Limited (FESCO) by August 2015, the government has delayed the strategic sale till March 2016, according to a latest report of the International Monetary Fund. The privatization of Lahore Electric Supply Company Limited (LESCO) and Islamabad Electric Supply Company Limited (IESCO) had been planned for October of 2015, but the timeline was first revised to December and now has been delayed for another six months to June next year, showed the report. The proposal of privatising power distribution companies drew the wrath of senators who demanded on August 6, 2015 that it should not be done without taking all the stakeholders into confidence. The issue came under discussion during a debate on a public petition. Senate members simply rejected the proposed privatisation of power distribution companies including Lahore Electric Supply Company, Faisalabad Electric Supply Company and Islamabad Electric Supply Company. Labour union leader Khursheed Ahmed had filed the petition which said: "The proposed privatisation of profitable electricity companies i.e. LESCO, FESCO and IESCO without thrashing out its pros and cons in consultation with the representatives of CBA Union and other stakeholders would possibly lead to increase in electricity prices and eruption of inter-provincial disputes like water distribution." Wrapping up the debate, State Minister for Interior Baleeghur Rehman assured the house that all the stakeholders would be taken on board.
Update on Privatisation Of Pakistan Power Distribution Firms
Jul 4 15
Pakistan Government is planning to sell stakes in the firms by end of December 2016. The government is looking to divest 18.29% stake in Mari Petroleum Company Limited (KASE:MARI) by end-September 2015, sale of 10-15% shares of Pak Arab Refinery Limited by end December 2015, strategic and asset sale of Northern Power Generation Company Limited by end-December 2015, sale of 40.25% shares of Kot Addu Power Co. Ltd. (KASE:KAPCO) by December 2015, sale of 26% shares of Pakistan International Airlines Corporation (KASE:PIAA) by end December 2015, strategic and asset sale of Faisalabad Electric Supply Company Limited beyond March 2016, strategic and asset sale of Jamshoro Power Company Limited by April 2016, strategic and asset sale of State Life Insurance Corporation of Pakistan Limited by end June 2016, strategic and asset sale of Islamabad Electric Supply Company Limited and Lahore Electric Supply Company Limited by end
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