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May 06, 2015 6:37 PM ET

Electric Utilities

Company Overview of Lahore Electric Supply Company Limited

Company Overview

Lahore Electric Supply Company Limited engages in the distribution of electricity in Pakistan. Lahore Electric Supply Company Limited was formerly known as Lahore Area Electricity Board and changed its name in March 1998. The company is based in Lahore, Pakistan.

22/A Queens Road

Lahore,  53400

Pakistan

Phone:

92 42 920 4801

Fax:

92 42 920 4803

Key Executives for Lahore Electric Supply Company Limited

Finance Director
General Manager of Operations
General Manager of Technical
Legal Director and Company Secretary
HR Director
Compensation as of Fiscal Year 2014.

Lahore Electric Supply Company Limited Key Developments

Pakistan Provides Privatization Plans & Will Finalize NPCC Offer By May, IMF Assured

The government is planning to privatize National Power Construction Corporation (Pvt) Limited (NPCC) by the end of May 2015 after the privatization of three entities within ongoing fiscal year. The privatization of NPCC could generate two billion rupees, according to certain sources. According to the Memorandum of Economic and Financial Policies, government appointed financial advisors for Northern Power Generation Company Limited and expect to complete the transaction by end-October 2015. The three other entities which will be privatized by the end of the year are Faisalabad Electric Supply Company Limited, Islamabad Electric Supply Company Limited and Lahore Electric Supply Company Limited. With respect to Pakistan International Airlines, Pakistan stated to IMF, "We have appointed financial advisors in July 2014 (structural benchmark) to seek potential options for restructuring and strategic private sector participation in the core airline business by end-December 2015 (structural benchmark). The diligence process will be completed by end-March 2015. Plans for private participation will be developed thereafter." The government of Pakistan also shed light on the plans for Pakistan Steel Mills Corporation (PVT) LTD. by saying, "We have appointed a professional board and a new chief executive officer and approved a comprehensive restructuring plan to prepare for potential strategic private sector participation in the company. Operational efficiency has begun to improve and capacity utilization has already climbed from 18 to 40 percent. In January 2015, we advertised for appointment of financial advisors, however, it was disqualified during the evaluation process. We have re-advertised on February 15, 2015 and expect to complete the appointment of financial advisors by end March 2015 so that the due diligence process can be initiated".

Government Starts With The Privatization Process For Faisalabad Electric, Lahore Electric And Islamabad Electric

The government of Pakistan started with the privatization process for Faisalabad Electric Supply Company Limited, Lahore Electric Supply Company Limited and Islamabad Electric Supply Company Limited. The government would complete privatization of Faisalabad Electric Supply Company Limited (Fesco), Lahore Electric Supply Company Limited (lesco) and Islamabad Electric Supply Company Limited (Iesco) in June 2015, as their privatization process was started in October 2014.

Pakistan Government To Privatize Six Companies

The government has decided to privatize 6 power companies on priority basis including, Lahore Electricity Supply Company Limited, Peshawar Electricity Supply Company Limited, Quetta Electricity Supply Company Ltd., Multan Electricity Supply Co., Ltd. Cabinet committee for privatization has decided to include 2 power production companies as well as 4 power supply companies/

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To contact Lahore Electric Supply Company Limited, please visit www.lesco.gov.pk. Company data is provided by Capital IQ. Please use this form to report any data issues.

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