Company Overview of Lahore Electric Supply Company Limited
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
Founded in 1998
Key Executives for Lahore Electric Supply Company Limited
General Manager of Operations
General Manager of Technical
Legal Director and Company Secretary
Compensation as of Fiscal Year 2015.
Lahore Electric Supply Company Limited Key Developments
Pakistan To Soon Privatize SOEs
Nov 15 15
The Privatisation Commission of Pakistan will very soon privatize state-owned entities (SOEs). The Privatisation Commission has completed around 70% work for the privatization of state-owned entities (SOEs), including Pakistan International Airlines Corporation (KASE:PIAA), Pakistan Steel Mills Corporation (PVT) LTD., State Life Insurance Corporation of Pakistan Limited, Faisalabad Electric Supply Company Limited, Mari Petroleum Company Limited (KASE:MARI), Lahore Electric Supply Company Limited and Kot Addu Power Co. Ltd. (KASE:KAPCO). A senior Privatisation Commission official said that these entities would be privatized within next six to eight months. He said: “Before inviting the letter of intent, transaction structure of the privatization process will be submitted to the Cabinet Committee on Privatisation for approval."
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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