Jump to content

PEL (company)

From Wikipedia, the free encyclopedia
(Redirected from Pak Elektron Limited)

Pak Elektron Limited
Company typePublic
PSX: PAEL
KSE 100 component
IndustryElectronics
Founded1956 (1956)
HeadquartersLahore, Punjab, Pakistan
Area served
Pakistan
Key people
  • Muhammad Naseem Saigol (Chairman)
  • Muhammad Murad Saigol (CEO)
ProductsRefrigerators, Air conditioners, Microwave Ovens, Water Dispensers, Transformers, Switchgear and Energy Meters
RevenueIncrease Rs. 66.02 billion (US$230 million)[1] (2022)
Increase Rs. 5.43 billion (US$19 million)[1] (2022)
Decrease Rs. 1.06 billion (US$3.7 million)[1] (2022)
Total assetsIncrease Rs. 67.41 billion (US$230 million)[1] (2022)
Total equityIncrease Rs. 38.95 billion (US$130 million)[1] (2022)
ParentSaigol Group
Websitepel.com.pk

Pak Elektron Limited (PEL) is a Pakistani major appliances and electrical equipment manufacturer headquartered in Lahore.[2]

PEL operates in two segments: power and appliances. The former includes manufacturing of power transformers and energy meters, while the latter division assembles and distributes home appliances such as refrigerators and air conditioners.[3][4]

History

[edit]

Pak Elektron Ltd (PEL) was founded in 1956 through a technical collaboration with AEG. In 1978, PEL was acquired by Saigol Group and was taken public a decade later. In 2009, PEL became the sole distributor of LG Corporation's home appliances in Pakistan.

In February 2018, the World Bank imposed a 33-month debarment on PEL, its affiliates PEL Marketing, Kohinoor Power Company, and its former general manager, Abdul Waheed Butt, for engaging in collusive practices during bidding on World Bank-financed electricity distribution and transmission improvement projects in Pakistan.[5][6] As part of Negotiated Resolution Agreements, PEL and Butt acknowledged their roles in the misconduct and agreed to comply with specified corporate compliance conditions for release from debarment. An investigation by the World Bank's Integrity Vice Presidency found that PEL was part of a trade association that conspired to allocate predetermined shares of five contracts by deciding winners in advance and coordinating bid prices; Butt chaired meetings that distributed at least two of these contracts among group members.[7]

In 2020, PEL became a distributor of Panasonic products in Pakistan.[8]

Appliances Division

[edit]

PEL’s Appliances Division is the flag carrier of the Saigol Group involved in home appliances manufacturing.

PEL Air

[edit]

PEL window-type air conditioners were introduced in 1981 in technical collaboration with General Corporation of Japan. Ever since their launch, PEL air conditioners have a leading position in the market. Recognizing the shift in consumers' preference from window-type to split-type air conditioners, PEL has focused its manufacturing efforts on split-type air conditioners.

PEL Refrigerators

[edit]

The manufacturing of refrigerators started in 1986-87 in technical collaboration with M/s IAR-SILTAL of Italy. Like air conditioners, PEL's refrigerators are also in great demand. Today, PEL Crystal has 30% market share across Pakistan.

PEL Deep Freezers

[edit]

PEL deep freezer was introduced in 1987 in technical collaboration with M/s Ariston Thermo of Italy.

Power Division

[edit]

PEL's Power Division consists of three main products:

  • Energy meters[9]
  • Transformers[9]
  • Switchgears[9]

References

[edit]
  1. ^ a b c d e "PEL Annual Report 2022" (PDF). pel.com.pk. Archived (PDF) from the original on 6 December 2023. Retrieved 6 December 2023.
  2. ^ "Corporate results: Pak Elektron's earnings increase 84%". The Express Tribune. 1 September 2015. Archived from the original on 18 May 2017. Retrieved 31 October 2016.
  3. ^ "Pak Elektron Limited | Business Recorder". Business Recorder. Archived from the original on 1 November 2016. Retrieved 31 October 2016.
  4. ^ "A story of recovery after years of frozen growth - The Express Tribune". The Express Tribune. 5 September 2015. Archived from the original on 18 May 2017. Retrieved 31 October 2016.
  5. ^ "World Bank Group Announces Debarment of Pak Elektron Limited". World Bank.
  6. ^ Staff Report (23 February 2018). "World Bank debars Pak Elektron for 33 months". Profit by Pakistan Today. Archived from the original on 3 February 2023. Retrieved 27 October 2024.
  7. ^ Reporter, The Newspaper's (24 February 2018). "PEL, Kohinoor debarred from WB-funded project". DAWN.COM. Archived from the original on 2 November 2018. Retrieved 27 October 2024.
  8. ^ Reporter, The Newspaper's Staff (2 June 2020). "Panasonic, PEL partner up". DAWN.COM. Archived from the original on 4 February 2023. Retrieved 4 February 2023.
  9. ^ a b c Hussain, Dilawar (20 April 2015). "PEL's expanding market". DAWN.COM. Archived from the original on 4 February 2023. Retrieved 4 February 2023.
[edit]
Retrieved from "https://en.wikipedia.org/w/index.php?title=PEL_(company)&oldid=1265010717"