Peshawar
The 77th meeting of the Board of Directors of Tribal Areas Electric Supply Company (TESCO) was held under the chairmanship of Engineer Muhammad Naeem.
The meeting was attended by Independent Directors Ms. Farah Hamid Khan and Mr. Naveed Aurakzai; Ex-Officio Directors Mr. Ghulam Rasool Anum and Mr. Ahmad Zeb; and Executive Director Mr. Tahir Jamal. The Company Secretary, Dr. Sajjad Ahmad Jan, presented a comprehensive briefing to the Board.
A significant development of the meeting was the approval for signing the long awaited, Market Participation Agreement (MPA) and Service Provider Agreement (SPA) with the Independent System and Market Operator (ISMO) of Pakistan, marking an important step toward aligning TESCO with evolving power market frameworks.
The Board also approved a revised organisational structure for the company commensurate to its growing work load.
The restructuring includes the removal of redundancies through the abolition of low-utility posts and their substitution with new positions aligned with operational requirements while considering the austerity and cost considerations.
Looking into the weak legal setup of the company, the Board approved the appointment of Assistant Director Legal to ensure proper follow up of the emerging legal issues.
The Board ask the management to ensure proper accountability to curb corrupt practices in the Company at all level.
The financial statements for FY 2024–25 were reviewed in detail, and progress on the establishment of a pension fund and registration of a Fund Management Trust was assessed. The management was directed to ensure expedited compliance with these initiatives, particularly reforms and development-oriented measures.
While concluding the proceedings, Chairman of the Board, Engineer Muhammad Naeem, stated:
“We are committed to strengthening TESCO’s institutional performance through structural reforms, transparency, and modernisation. The decisions taken today reflect our focus on efficiency, accountability, and long-term sustainability.”
He further added that the Board’s approvals, particularly regarding governance structures and market integration, will play a crucial role in enhancing operational effectiveness and regulatory compliance.”
The meeting concluded with a reaffirmation of the Board’s resolve to continue implementing forward-looking reforms to improve service delivery and organisational performance.
