PESHAWAR — The Board of Directors of Tribal Areas Electric Supply Company has approved a series of reforms, key agreements and organisational changes during its 77th meeting, as the utility moves to align with Pakistan’s evolving power market structure.
Chaired by Engineer Muhammad Naeem, the meeting endorsed the signing of Market Participation Agreement (MPA) and Service Provider Agreement (SPA) with the Independent System and Market Operator, a step aimed at integrating TESCO into the country’s developing competitive electricity market.
The board also approved recruitment for the vacant post of Deputy Director (Legal) and cleared a revised organisational structure designed to improve efficiency while addressing cost constraints.
Structural changes and cost rationalisation
Officials said the restructuring plan includes eliminating low-utility positions and introducing new roles aligned with operational needs, in line with ongoing austerity measures. The changes are intended to streamline operations and strengthen institutional performance.
The board reviewed the company’s financial statements for the fiscal year 2024–25 and assessed progress on establishing a pension fund and registering a Fund Management Trust. Management was directed to expedite compliance on these initiatives.
Focus on governance and market integration
Participants included 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. Company Secretary Dr. Sajjad Ahmad Jan briefed the board on key agenda items.
The chairman said the approved measures are aimed at improving governance, transparency and operational efficiency, while ensuring compliance with regulatory frameworks and supporting long-term sustainability.
The meeting concluded with a reaffirmation of the board’s commitment to ongoing reforms to enhance service delivery and organisational performance.
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