Author: dailybalochistantimes.com

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LESCO saves Rs58bn in two years, cuts losses to historic low


Islamabad: Lahore Electric Supply Company (LESCO), Pakistan’s largest power distribution company, has saved the national exchequer more than Rs58 billion by reducing its financial gap from Rs79 billion to Rs21 billion over the past two years through aggressive loss reduction, improved recoveries and power sector reforms, setting a new national benchmark for performance, according to a statement issued by the Ministry of Energy (Power Division) on Thursday.



The company achieved a recovery rate of 101.05pc during the period, surpassing the 100pc benchmark set by the National Electric Power Regulatory Authority (NEPRA) for the first time.



Distribution losses declined from 15.8pc to 11.86pc, marking a four percentage point reduction , the largest two year loss reduction recorded by any electricity distribution company in the country’s history.



The achievement carries significant financial weight as LESCO, with an annual revenue base exceeding Rs1 trillion, generates an estimated Rs10bn improvement for every one percentage point reduction in losses.



The four point decline has therefore translated into one of the biggest efficiency gains ever recorded in Pakistan’s power distribution sector.



Federal Minister for Power Sardar Awais Ahmed Khan Leghari said LESCO’s performance demonstrated that sustained oversight, accountability and data driven management could deliver tangible results in the power sector.



The ministry said the minister had closely monitored loss and recovery trends across distribution companies, ensuring management teams remained focused on meeting targets and improving field level enforcement.



According to the statement, the turnaround was driven by the vision of Prime Minister Shehbaz Sharif and supported by reforms introduced by the Power Division, including digitisation of billing and recovery systems, stricter anti theft measures, network modernisation, continuous performance monitoring and customer focused initiatives.



The ministry said independent boards of directors and a policy of non interference in operational matters had enabled professional management to implement reforms without political pressure.



It added that LESCO’s performance offered a model for other distribution companies and strengthened efforts to curb circular debt while improving the financial sustainability of the power sector.



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Twin cities receive heavy rain; district administration on high alert


Rawalpindi: Commissioner Rawalpindi Division Salman Ghani on Friday directed all relevant departments to remain alert to protect the lives and property of citizens during the ongoing monsoon spell, as intermittent rain continued across Rawalpindi and Islamabad.



The commissioner instructed deputy commissioners and assistant commissioners to maintain continuous field monitoring and ensure immediate response during and after rainfall.



He directed all departments to ensure the timely drainage of rainwater from roads, streets and low-lying areas to minimise inconvenience to the public. He also ordered enhanced surveillance of Nullah Lai and other stormwater drains and called for strengthened safety arrangements at vulnerable locations.



Salman urged residents of low-lying areas to adopt precautionary measures and follow official advisories. He also advised citizens to stay away from electricity poles and broken power lines to avoid the risk of electrocution, avoid unnecessary travel during heavy rain, and remain updated on weather conditions.



He further appealed to parents to prevent children from going near rivers, rainwater channels and open manholes during the monsoon.



According to official rainfall data, 103 millimetres of rain was recorded at Rawalpindi Kutchery, 68 at Saidpur, 52 mm at Golra, 42 mm at Bokra, 65 mm at the Pakistan Meteorological Department (PMD), 73 mm at Shamsabad, 60 mm at Pirwadhai and 59 mm at New Katarian.



Meanwhile, civic agencies remained on high alert as the rain continued across the twin cities.



Managing Director Water and Sanitation Agency (WASA) Rawalpindi Azizullah Khan said WASA personnel and heavy machinery had been deployed in low-lying areas, including Liaquat Bagh, Committee Chowk Underpass, Murree Road and Sadiqabad, to ensure uninterrupted drainage.



He said Nullah Lai was under continuous monitoring and the water flow remained normal.



Khan said field officers were personally supervising drainage operations. He also urged citizens not to throw garbage into drains or sewer lines and not to remove manhole covers to ensure the smooth flow of rainwater.



The Suthra Punjab Agency(SPA) also continued drain cleaning, waste collection, waste lifting and manual sweeping despite the rain to prevent waterlogging in vulnerable areas.



The agency said sanitation workers remained deployed across the city, while awareness campaigns were conducted in residential neighbourhoods and markets, urging citizens not to dump garbage or construction debris into drains and to dispose of waste through designated containers or sanitation workers.



Managing Director SPA Rawalpindi Rana Sajid Safdar said maintaining cleanliness during the monsoon remained the agency’s top priority.



He said sanitation workers were ensuring timely drainage in low-lying areas, while the Clean Punjab Helpline 1139 enabled citizens to register sanitation-related complaints without delay.



Media Coordinator Rescue 1122 Rawalpindi Muhammad Usman Gujar said rescue personnel had been deployed along Nullah Lai and in low-lying areas, including Katarian and Gawalmandi, and would remain on duty throughout the rainy spell.



He advised the public to exercise caution during the monsoon, urging parents not to allow children near Nullah Lai or electricity poles during rainfall, motorists to drive carefully, residents to avoid weak structures, flooded areas, rivers and streams, and tourists to avoid travelling to vulnerable destinations during periods of heavy rain and possible cloudbursts. He urged citizens to contact the Rescue 1122 helpline immediately in case of any emergency.



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SBP injects over Rs 12.38 trillion in the market


Karachi: The State Bank of Pakistan (SBP), Friday, injected Rs 12,384.1 billion through Reverse Repo Purchase and Shariah Compliant Mudarabah based Open Market Operations (OMO) to maintain liquidity in the market.



The central bank conducted the Open Market Operation, Reverse Repo Purchase (Injection) for 7 and 17-day tenors on July 31, 2026, and injected Rs 11,913.1 billion against 33 bids while other Rs 471 billion were injected through Shariah Compliant Mudarabah based OMO.



The central bank, for the Reverse Repo Purchase of 17-day tenor, received 28 bids cumulatively offering Rs 11,953.1 billion at the rate of return ranging between 11.51 to 11.57%. The SBP accepted Rs 11,750 billion against 28 quotes at 11.51% rate of return. The total amount offered at 11.51% was Rs 5,443.5 billion, out of which SBP accepted Rs 5,240.4 billion on a pro-rata basis.



Moreover, the SBP also received 5 bids for the 7-day tenor, cumulatively offering Rs 163.1 billion at the rate of return ranging between 11.54% to 11.56%. The SBP accepted all the 5 quotes with the entire amount at 11.54% rate of return.



Meanwhile, SBP also conducted Shariah Compliant Mudarabah based Open Market Operation for the 7 and 17-day tenors. The central bank received 6 quotes for the 7-day tenor offering Rs 71 billion at rate of return ranging between 11.56 to 11.58%. SBP accepted the entire amount against all the 6 bids at 11.56% rate of return.



The central bank also received 5 bids for the 17-day tenor offering Rs 505.9 billion at rate of return ranging between 11.52% to 11.57%. SBP accepted Rs 400 billion at 11.52% rate of return. The total amount offered at 11.52% was Rs 252 billion, out of which SBP accepted Rs 146.1 billion on a pro-rata basis.



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Work on making 9 villages ‘model’ completed: minister


Lahore: Minister for Local Government Zeeshan Rafique has said that under Chief Minister Maryam Nawaz Sharif’s Sohna (beautiful) Punjab Program, the work on making 9 villages model has been completed, while the target of making 40 model villages will be achieved soon.



He was presiding over a review meeting on model villages held at the Civil Secretariat via video link. Secretary Local Government Shakeel Ahmed Mian, Special Secretaries Shahid Zaman Luck and Arshad Baig also attended. Punjab Rural Municipal Services Company (PRMSC) CEO Khurram Pervez briefed the provincial minister on the progress made so far.



Minister for Local Government Zeeshan Rafique said that according to the vision of Chief Minister Maryam Nawaz, development work is underway in 485 villages of Punjab. He said that the 9 villages in which the work has been completed include Chak 70 EB Pakpattan, Chak 99 Lodhran, Ghaniye ke village Kasur, Chak 81 WB Vehari, Pindi Amulak Narowal, Dari Chachran Rahim Yar Khan.



Zeeshan Rafique said that the schemes have also been completed in village Rekrra and Village Council No. 2 DG Khan and village Balarke Sheikhupura. He said that work is going on at a fast pace in 124 villages under the supervision of PRMSC. “More funds in the new fiscal year budget will facilitate the achievement of the set targets”, he hoped. He said that Chief Minister Maryam Nawaz Sharif wants to make more villages exemplary in the next phase. “Streets will be paved and a sewage system will be built in every model village”, he added. The Minister further said that the installation of street lights and construction of a park are also part of the program. He said that monitoring has improved by making District Officers (IandS) coordinators in the respective districts.



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PPL discovers gas, condensate at Shah Bandar Block in Sindh


Karachi: Pakistan Petroleum Limited (PPL) has announced a new gas and condensate discovery at its exploratory well Rahi X-1 in the Shah Bandar Block, located in Sujawal district of Sindh.



According to a press release issued on Friday, the discovery marks the fourth consecutive hydrocarbon find made by PPL as the operator of the Shah Bandar Block.



PPL holds a 63 per cent working interest in the block, while Mari Energies Limited has a 32 per cent stake. Sindh Energy Holding Company Limited and Government Holdings (Private) Limited each hold a 2.5 per cent working interest.



The statement said the Rahi X-1 exploratory well was spudded on June 17, 2026 and drilled to a measured depth of 2,612 metres to assess the hydrocarbon potential of the Upper Sands of the Lower Goru Formation.



Based on drilling results and interpretation of wireline log data, a hydrocarbon-bearing zone was identified and subsequently tested through a cased-hole drill stem test (DST).



During testing, the well produced 0.493 million standard cubic feet of gas per day (MMscfd) and 12 barrels of condensate per day at a wellhead flowing pressure of 133 pounds per square inch through a 32/64-inch choke from the A-Sand of the Lower Goru Upper Sands.



PPL said the discovery reflected its continued commitment to strengthening Pakistan’s energy security through accelerated exploration and development activities.



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PSX rebounds, gains over 546 points on broad-based buying


Islamabad: The benchmark KSE-100 Index of the Pakistan Stock Exchange (PSX) staged a recovery on Friday, gaining 546.13 points, a positive change of 0.31 percent, to close at 176,094.12 points against 175,547.98 points recorded in the previous trading session.



The ready market witnessed a trading volume of 880.951 million shares, compared to 711.201 million shares traded in the previous session, while the traded value slipped to Rs24.957 billion from Rs25.396 billion. Market capitalisation increased to Rs19.756 trillion from Rs19.718 trillion recorded a day earlier.



Out of 493 companies that traded in the ready market, 273 posted gains, 185 suffered losses, while 35 remained unchanged, reflecting a predominantly bullish trend across the market.



Trust Brokerage led the volume chart with 178.797 million shares, followed by Dadabhoy Cement with 81.741 million shares and Cnergyico PK with 50.457 million shares.



Among the top gainers, The Thal Industries Corporation Limited surged by Rs104.68 to close at Rs1,151.46, while Nestle Pakistan Limited advanced by Rs91.49 to settle at Rs7,913.37.



On the losing side, PIA Holding Company LimitedB declined by Rs372.50 to close at Rs17,627.50, while Khyber Textile Mills Limited fell by Rs74.65 to Rs2,002.81.



In the futures (DFC) market, turnover stood at 582.375 million shares with a traded value of Rs24.919 billion, compared with 382.309 million shares worth Rs17.732 billion in the previous session.



Of the 307 companies traded in the futures market, 136 advanced, 157 declined and 14 remained unchanged.