ISLAMABAD  -  Ex-Wapda Distribution Companies (DISCOs) have incurred losses of Rs239 billion on account of transmission and distribution losses during the first three months of the fiscal year 2024-25.

The losses incurred by Discos during the first quarter (July to September) of 2024 have declined by 22 percent as compared to the same period last fiscal, claimed the Power Division. The results for the first three months of the current financial year till September 2024 are significantly better than last year, the division said here Wednesday.

In the last fiscal year 2023-24, the electricity distribution companies incurred a loss of Rs 591 billion due to line losses and non-receipt of bills. According to the first quarter report of the current financial year, the distribution companies have made a loss of Rs239 billion in three months compared to Rs308 billion last year, which is an improvement of Rs 69 billion.

The collection of distribution companies in the first three months has been 91% this year compared to 84% last year, a marked improvement. In the first four months of last year i.e. July to October, there was an increase of 301 billion rupees in revolving credit, while the increase of revolving credit in the first four months of this year is only 11 billion rupees, which is a reflection of better performance.