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LESCO exposes insolvency of Govt bodies worth billionsBreaking

January 18, 2024

Lahore Electric Supply Company (LESCO) has released a staggering list of insolvent government institutions, revealing that federal and provincial bodies associated with LESCO owe billions of rupees. As per the statement issued by the LESCO spokesperson, several major entities are entangled in significant financial defaults. WASA Lahore is in arrears of more than 5 billion rupees, while Town Municipal Authorities have accumulated defaults exceeding 4 billion rupees. Punjab Police finds itself in default of over 58 crore rupees, Punjab Irrigation and Power Department in default of more than 53 crore rupees, and Lahore Ring Road Authority in default of 40 crore rupees. The district government of Lahore faces defaults exceeding Rs. 36 crores, with the Punjab Health Department trailing behind in default of more than Rs. 35 crore. Lahore Development Authority is struggling with defaults exceeding 23 crore rupees, and Basic Endoural Health Lahore is in default of more than 17 crore rupees. District and Tehsil Headquarters Hospital Lahore is also in default of more than 13 crore rupees. In a similar vein, District and Tehsil Headquarters Hospital Kasur grapples with defaults exceeding 12 crore rupees, Parks and Horticulture Authority faces defaults of more than 12 crore rupees, and Punjab Health and Welfare Department lingers in default of more than 10 crore rupees. Punjab Senior Civil Judge is insolvent, owing more than 9 crore rupees, while the Supreme Court faces insolvency exceeding 8.5 million rupees.

P&W Corporation and Pakistan Broadcasting Corporation are both in dire financial straits, being insolvent to the tune of over 790 million rupees and over 390 million rupees, respectively. The Geological Survey of Pakistan is also insolvent, with debts exceeding 3 million rupees, and the Central Excise Land Customs is in default of more than Rs.3 crore. According to LESCO officials, National Highway Authority owes more than 3 crore rupees, Cabinet Secretariat defaults on more than 3 crore rupees, and Punjab Safe City Authority is in default of more than 5 crore 90 lakh rupees. Tehsil Headquarters Hospital Sheikhupura faces insolvency, owing more than 5 and a half crore rupees. Statistics Punjab is insolvent with defaults exceeding 5 crore rupees, and Punjab Public Service Commission grapples with defaults of more than 5 crore rupees. King Edward University is in default of more than 4 and a half crore rupees, while the Department of Transport District Government Lahore and the Department of Livestock District Government Kasur both face insolvency, each with defaults of more than 3 crore 90 lakh rupees. Civil Secretariat, Tourism Development Corporation Punjab, Mayo Hospital, and the Department of Education City District Government Lahore are all in default of more than 3 crore rupees.

Credit: Independent News Pakistan (INP)