The Lahore Electric Supply Company plans to increase its authorised capital by 300 percent, from Rs50 billion to Rs200 billion, sources told Business Recorder.
The proposed capital, comprising 20 billion ordinary shares of Rs10 each, will be considered at Lesco’s AGM scheduled for February 6, 2026, alongside routine business.
The enhancement aims to accommodate the Government of Pakistan’s growing equity in Lesco, which reached Rs149.51 billion as deposit for shares by June 30, 2025.
Following the increase, Clause V of the company’s Memorandum of Association will be amended to reflect Rs200 billion authorised capital and corresponding rights for various share classes.
Rights among different classes of shares, including voting and profits, will remain strictly proportionate to the paid-up value of the shares, ensuring fairness among shareholders.
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For 673,800,863 shares registered in the President’s name, Lesco will grant a proxy to CEO Muhammad Ramzan or Chairman Amer Zia for voting at the AGM.
The CEO and company secretary will jointly complete all legal and corporate formalities, including filing documents with the SECP and Registrar of Companies, to implement the resolution.
Historical government contributions include Rs341.96 billion transferred to Pepco in 2013, from which Rs37.97 billion was allocated to Lesco and accounted for as equity in the company.
Further adjustments and allocations, including Rs45.88 billion credit notes issued by CPPA-G, have gradually increased the total deposit for shares to Rs149.51 billion by June 30, 2025.
The consistent rise in government equity over the years, from Rs103.63 billion to Rs149.51 billion, reflects ongoing support and strengthens Lesco’s financial position for future operations.
