Author: dailybalochistantimes.com

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.

Islamabad: Gold prices witnessed a sharp increase in the local market on Friday, with the price of 24-karat gold per tola rising by Rs3,000 to settle at Rs430,436, according to rates issued by the All Pakistan Sarafa Gems and Jewellers Association.

Similarly, the price of 10 grams of 24-karat gold increased by Rs2,572 to Rs369,029, while 10 grams of 22-karat gold gained Rs2,357 to reach Rs338,288.

In the international market, the price of gold climbed by $30 to $4,080 per ounce, the association reported.

Meanwhile, silver prices also recorded an upward trend in the local market. The price of silver per tola increased by Rs79 to Rs6,294, while the price of 10 grams of silver rose by Rs68 to Rs5,396.

The price of silver in the international market also increased by $0.79 to $58.15 per ounce, the association added.

Islamabad: Federal Minister for Railways Muhammad Hanif Abbasi on Friday expressed profound grief and sorrow over the loss of 34 precious lives in a coal mine accident in the Soranj area on the outskirts of Quetta.

The minister extended his heartfelt condolences to the bereaved families of the deceased miners and prayed for the eternal peace of the departed souls and for strength and patience for their families to bear the irreparable loss.

In his condolence message, Hanif Abbasi said that miners are a valuable asset to the country’s economy and stressed that strict implementation of safety regulations was essential to protect their lives.

He emphasized that safety mechanisms, monitoring systems and occupational standards in coal mines should be further strengthened to prevent tragic incidents like the Soranj mine accident in the future.

The minister said that protecting the lives and property of the working class was the foremost responsibility of the state and the relevant institutions, urging effective measures to avoid such tragedies.

Islamabad: The Sensitive Price Indicator (SPI)-based weekly inflation decreased by 0.91 percent during the week ended on July 30, 2026, for the combined consumption group, the Pakistan Bureau of Statistics (PBS) reported on Friday.

According to PBS data, the SPI for the week under review declined to 357.61 points from 360.88 points recorded in the previous week. On a year-on-year basis, the SPI increased by 9.05 percent.

The weekly SPI, with base year 2015-16=100, covers 17 urban centres and 51 essential items for all expenditure groups.

The SPI for the lowest consumption group (up to Rs 17,732) decreased by 1.19 percent to 345.63 points from 349.80 points.

Likewise, the SPI for consumption groups of Rs 17,733-22,888, Rs 22,889-29,517, Rs 29,518-44,175 and above Rs 44,175 declined by 1.37 percent, 0.97 percent, 0.81 percent and 0.68 percent, respectively.

During the week, out of 51 items, prices of 27 items (52.94 percent) increased, six items (11.77 percent) decreased, while 18 items (35.29 percent) remained unchanged.

On a week-on-week basis, the items that witnessed decrease in prices included tomatoes which declined by 22.96 percent, followed by chicken 11.20 percent, electricity charges for Q1 9.06 percent, bananas 0.70 percent, sugar 0.16 percent and pulse moong 0.15 percent.

On the other hand, the prices of onions witnessed the highest increase of 7.62 percent, followed by diesel 4.17 percent, eggs 3.16 percent, petrol 2.46 percent, wheat flour 2.00 percent, potatoes 1.93 percent, LPG 1.90 percent, pulse gram 1.44 percent, vegetable ghee (2.5kg) 0.71 percent, pulse mash 0.69 percent, pulse masoor 0.64 percent and firewood 0.15 percent.

On the other hand, prices of tomatoes declined by 22.96 percent, followed by chicken 11.20 percent, electricity charges for Q1 9.06 percent, bananas 0.70 percent, sugar 0.16 percent and pulse moong 0.15 percent.

On a year-on-year basis, prices of potatoes declined by 30.89 percent, followed by pulse gram 19.89 percent, chicken 19.56 percent, sugar 17.48 percent, salt powder 14.09 percent, pulse masoor 12.80 percent, eggs 8.38 percent and pulse moong 7.38 percent over the corresponding week of last year.

Major annual increases were recorded in the prices of tomatoes by 228.71 percent, followed by onions 95.36 percent, wheat flour 78.65 percent, LPG 51.76 percent, diesel 37.42 percent, petrol 23.28 percent, gents sponge chappal 16.69 percent, mutton 16.06 percent, chilies powder 15.20 percent, bananas 14.69 percent, beef 13.44 percent and bread 9.69 percent, according to the PBS.