Pakistan Power Sector Posts Rs800b Equity Hole as DISCO Failures Add Rs397b to Debt in FY25

Overview

• NEPRA reported average transmission and distribution losses of 17.55% against an allowed 11.43%, causing an estimated Rs265 billion financial hit.
• Overall recovery stood at 96.62% versus the 100% benchmark, resulting in a Rs132.46 billion shortfall.
• Under‑utilised take‑or‑pay plants drove the Capacity Purchase Price to Rs14.21 per kWh, the largest component of the power tariff.
• Authorities retired or decommissioned 2,829 MW of contracted capacity and added 884 MW from the Suki Kinari hydropower project.
• K‑Electric did not add to circular debt during the year, though its customers paid Rs35.76 billion through the Debt Servicing Surcharge.