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PEL (company)

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Pak Elektron Limited
Company type
Public
PSX: PAEL
KSE 100 component
Industry
Founded1956 (1956)
HeadquartersLahore, Punjab, Pakistan
Area served
Pakistan
Key people
ProductsRefrigerators
Air conditioners
Deep freezers
Microwave ovens
Water dispensers
Washing machines
LED televisions
Transformers
Switchgear
Energy meters
RevenueIncrease Rs. 66.02 billion (US$240 million)[1] (2022)
Increase Rs. 5.43 billion (US$19 million)[1] (2022)
Decrease Rs. 1.06 billion (US$3.8 million)[1] (2022)
Total assetsIncrease Rs. 67.41 billion (US$240 million)[1] (2022)
Total equityIncrease Rs. 38.95 billion (US$140 million)[1] (2022)
OwnerSaigol family
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]

History

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Pak Elektron Limited was incorporated on 3 March 1956 as a public limited company under the Companies Act 1913 by the Malik Brothers, in technical collaboration with AEG of Germany, to manufacture transformers, switchgear and electric motors. In October 1978, after AEG relinquished its shareholding, the company was acquired by the Saigol family of Companies and subsequently floated its shares on the Karachi Stock Exchange and the Lahore Stock Exchange.[4][5]

Under Saigol ownership, PEL established its appliances division in 1980 and began producing window-type air conditioners in 1981 in technical collaboration with General Corporation of Japan. Production of refrigerators and deep freezers followed in 1986–87 through collaborations with IAR-SILTAL and Ariston Thermo of Italy. In 1995, PEL entered the television market through a joint venture with Daewoo Electronics of South Korea.[5][6]

In 2005, PEL established a power transformer manufacturing facility with technical assistance from Ganz Works of Hungary.[7] In 2009, the company became the sole distributor of LG Corporation's home appliances in Pakistan.[5]

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.[8][9] 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.[10][11]

In 2020, PEL became a distributor of Panasonic products in Pakistan.[12] In 2025, PEL commenced export operations to the United States.[13]

Power equipment

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PEL's Power Division consists of three main products:

References

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  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. ^ Hasan, Saad (4 September 2015). "Pak Elektron: A story of recovery after years of frozen growth". The Express Tribune. Archived from the original on 18 May 2017.
  5. ^ a b c "Pak Elektron Limited". Business Recorder. 24 September 2025.
  6. ^ Schmidt, Lucinda (14 September 1998). "The smell of money puts Daewoo in an expansive mood". AFR.
  7. ^ "Pak Elektron Limited (PEL)". Power Technology.
  8. ^ "World Bank Group Announces Debarment of Pak Elektron Limited". World Bank.
  9. ^ 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.
  10. ^ 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.
  11. ^ "World Bank Debarments for Misconduct in Southern Asia". The National Law Review.
  12. ^ 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.
  13. ^ "Pakistani manufacturer PEL begins export operations to USA". Brecorder. 17 March 2025. Retrieved 18 March 2025.
  14. ^ 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.
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