LAHORE, June 4: Wapda has posted a saving of Rs1.2 billion on account of reduction in line losses from 27 per cent to 25.5 per cent during the current fiscal year, as a result of concerted efforts.

According to a Wapda press release, the authority's preliminary estimation of line losses for the third quarter of January to March 2004 was projected at 27 per cent and thereafter the projection for the same period was revised at 25.5 per cent.

The press release said the reduction had been achieved from 25.1 per cent of March 2003, to 24.7 per cent as of March 2004. The situation further improved in April 2004, with at cut of 0.7 per cent from 25.7 per cent of April 2003, to 25 per cent as of April 2004.

In the light of these facts, the figures sent to the IMF have been unfortunately misconstrued in reports appearing in a section of the Press.