LAHORE: Financial embezzlement worth Rs22 billion has been unearthed in Lahore Electric Supply Company (LESCO), said sources. They said an audit report of the company has suggested that this embezzlement has taken place in various departments of the company. As per report, an embezzlement of Rs18 billion has been found in procurement of material, followed by Rs 900 million in the management of bank accounts and another Rs300 billion in the management of grids.

According to the sources, faulty single and three phase electricity meters have been procured by the company, producing wrong readings after their installations. They said faults occurred soon after the passing through of current from the main line. Company sources said investigation has been ordered to fix responsibility.

Copyright Business Recorder, 2021