DISCOs suffers Rs 591 bln loss in FY 2023-24

Power Distribution Companies (DISCOs) suffered a loss of Rs 591 billion on accounts of line losses and less recovery during last fiscal year 2023-24.

However, the losses stood at Rs 239 billion in first quarter of the current fiscal year 2024-24 as compared to Rs 308 billion during the corresponding period of last year, showing an improvement of Rs 69 billion, said a statement issued by Ministry of Power Division here Wednesday.

The recovery of DISCOs also witnessed a visible upward trend and it was recorded as 91 per cent as compared to 84 per cent during the said periods.
Similarly, the circular debt witnessed only Rs 11 billion increase in last four months of the current fiscal year as compared to Rs 301 billion increase during the period of July to October 2023, it further said.