March 26, 2017 8:23 AM 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

Founded in 1998

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 2016.

Lahore Electric Supply Company Limited Key Developments

Pakistan Scales Back Planned Privatization Transactions

The government has developed a plan to sequence the capital market and pre-privatization restructuring for ten companies, Oil and Gas Development Co., Ltd. (KASE:OGDC), Pakistan Petroleum Ltd. (KASE:PPL), Mari Petroleum Company Ltd (KASE:MARI), Government Holdings (Private) Limited, Habib Bank Limited (KASE:HBL), United Bank Ltd. (KASE:UBL), Allied Bank Limited (KASE:ABL), National Bank Limited (KASE:NBP), State Life Insurance Corporation of Pakistan Limited for block sales and primary or secondary public offerings. the government revisited its plans for privatising Faisalabad Electric Supply Company Limited and other DISCOs and decided to move ahead with an Initial Public Offering (IPO) for a minority share in FESCO by November, 2016 to be followed by Islamabad Electric Supply Company Limited and Lahore Electric Supply Company Limited. The government also committed to disinvesting Kot Addu Power Co. Ltd. (KASE:KAPCO), a large power generation company, and to solicit expressions of interest by July 15, 2016 (new structural benchmark in lieu of completing the bidding process for FESCO by June, 2016. SLIC bill was subsequently approved by the National Assembly in May, 2016. The government will conduct the Initial Public Offering of SLIC by end-March, 2017 and will offer the first option for the government's shares in Mari Petroleum Company Limited (MPCL) to the parties who have been MPCL's other shareholders since incorporation, aiming at finalising this process by end-August, 2016.

Privatization Of Public Entities On Halt

The government of Pakistan has put on hold privatization of ailing public sector entities due to political opposition and labour unrest. The privatization of Pakistan International Airlines Corporation (KASE:PIAA) (PIA), Pakistan Steel Mills (PSM), Faisalabad Electric Supply Company Limited, Lahore Electric Supply Company Limited and Islamabad Electric Supply Company Limited could not materialized on time, as had been committed with International Monetary Fund. Sources in the Ministry of Finance said that the privatization of public sector entities like PIA and PSM would make progress in the next financial year. Meanwhile, privatization of Northern Power Generation Company Limited, Jamshoro Power Company Limited, Lakhra Power Generation Company Limited and Central Power Generation Company Limited, Kot Addu Power Co. Ltd. (KASE:KAPCO) and SME Bank Ltd. are in the pipeline.

Pakistan To Reportedly Privatize 38 Entities

Pakistan intends to privatize 38 national organizations. According to sources, Prime Minister Nawaz Sharif is determine to sell all organizations to its close aide, kin and relatives on less rate in comparison to the market price. The list includes Oil and Gas Development Co., Ltd. (KASE:OGDC), Mari Petroleum Company Limited, Pak Arab Refinery Limited, Pakistan State Oil Company Limited (KASE:PSO), SME Bank Ltd., Sui Southern Gas Co., Ltd. (KASE:SSGC), Sui Northern Gas Pipelines Ltd. (KASE:SNGP), Pakistan Reinsurance Company Ltd. (KASE:PAKRI), National Insurance Company Limited, State Life Insurance Corporation of Pakistan Limited, 76% stake in National Bank of Pakistan (KASE:NBP), 10% stake in Allied Bank Limited (KASE:ABL), 42% stake in Habib Bank Limited (KASE:HBL), Heavy Electrical Complex (Pvt.) Ltd., National Power Construction Corporation (Pvt) Limited, Islamabad Electric Supply Company Limited, Faisalabad Electric Supply Company Limited, Lahore Electric Supply Company Limited, Multan Electric Power Co., Ltd., Pakistan Steel Mills Corporation (PVT) LTD., Pakistan Engineering Company Limited (KASE:PECO) and Pakistan International Airlines Corporation (KASE:PIAA).

Similar Private Companies By Industry

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Recent Private Companies Transactions

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