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Stocks’ retreat continues for third session
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ISLAMABAD: Power Minister Awais Leghari on Monday expressed displeasure over poor performance of ex-
ISLAMABAD: Power Minister Awais Leghari on Monday expressed displeasure over poor performance of ex-Wapda distribution companies (Discos) and warned their managements of strict disciplinary action over their inefficiency. A brief statement issued by the Power Division said the minister was presiding over a meeting of the chief executive officers and chairpersons of the board of directors of Discos to review the status of line losses and collection of electricity bills during the months of July and August. “Strict administrative action will be taken against officers of companies showing unsatisfactory performance,” the statement quoted the minister as saying. The chairpersons and CEOs gave a detailed briefing over the situation, measures and problems of their respective companies, the statement said. He told the participants that every company needed to adopt a more proactive strategy to reduce line losses and improve recoveries so that the financial conditions of the companies are improved. The minister directed all the CEOs and boards of directors to hold a review meeting on the 10th of every month and he would also review the monthly performance of the Discos. He was also quoted a saying that there would be an increase in recoveries and a clear reduction in line losses.
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