{{Short description|Pakistani home appliances manufacturer}} {{Use Pakistani English|date=September 2024}} {{Use dmy dates|date=September 2024}} {{Infobox company | name = Pak Elektron Limited | logo = Pakistan Elektron Limited (2024 logo).png | type = Public | traded_as = {{karse|PAEL}} <br/> KSE 100 component | founded = {{start date|1956}} | hq_location = Lahore, Punjab, Pakistan | key_people = {{plainlist| * Naseem Saigol (Chairman) * Murad Saigol (CEO) }} | area_served = Pakistan | industry = {{Plainlist| * Major appliances * Electrical equipment }} | products = Refrigerators<br />Air conditioners<br />Deep freezers<br />Microwave ovens<br />Water dispensers<br />Washing machines<br />LED televisions<br />Transformers<br />Switchgear<br />Energy meters | revenue = {{Increase}} {{PKRConvert|66.02|b}}<ref name="AR2022">{{cite web|title=PEL Annual Report 2022|url=https://pel.com.pk/wp-content/uploads/2023/04/PEL-Annual-Report-2022-Final.pdf|website=pel.com.pk|access-date=6 December 2023|archive-date=6 December 2023|archive-url=https://web.archive.org/web/20231206013308/https://pel.com.pk/wp-content/uploads/2023/04/PEL-Annual-Report-2022-Final.pdf|url-status=live}}</ref> | revenue_year = 2022 | operating_income = {{Increase}} {{PKRConvert|5.43|b}}<ref name=AR2022/> | income_year = 2022 | net_income = {{Decrease}} {{PKRConvert|1.06|b}}<ref name=AR2022/> | net_income_year = 2022 | assets = {{Increase}} {{PKRConvert|67.41|b}}<ref name=AR2022/> | num_employees = | owner = Saigol family | divisions = | assets_year = 2022 | equity = {{Increase}} {{PKRConvert|38.95|b}}<ref name=AR2022/> | equity_year = 2022 | website = {{URL|pel.com.pk}} }} '''Pak Elektron Limited''' ('''PEL''') is a Pakistani major appliances and electrical equipment manufacturer headquartered in Lahore.<ref>{{Cite news|url=http://tribune.com.pk/story/948427/corporate-results-pak-elektrons-earnings-increase-84/|title=Corporate results: Pak Elektron's earnings increase 84%|date=2015-09-01|newspaper=The Express Tribune|language=en-US|access-date=2016-10-31|archive-date=18 May 2017|archive-url=https://web.archive.org/web/20170518053141/https://tribune.com.pk/story/948427/corporate-results-pak-elektrons-earnings-increase-84/|url-status=live}}</ref>
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.<ref>{{Cite web|url=http://www.brecorder.com/company-news/235/1238501/|title=Pak Elektron Limited {{!}} Business Recorder|website=Business Recorder|access-date=2016-10-31|archive-date=1 November 2016|archive-url=https://web.archive.org/web/20161101042333/http://www.brecorder.com/company-news/235/1238501/|url-status=dead}}</ref>
==History== 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.<ref name="tribune2015">{{Cite web |url=https://tribune.com.pk/story/950922/pak-elektron-a-story-of-recovery-after-years-of-frozen-growth |title=Pak Elektron: A story of recovery after years of frozen growth |date=September 4, 2015 |first=Saad |last=Hasan |archive-date=18 May 2017|archive-url=https://web.archive.org/web/20170518053243/https://tribune.com.pk/story/950922/pak-elektron-a-story-of-recovery-after-years-of-frozen-growth/|url-status=live |website=The Express Tribune}}</ref><ref name="brecorder24"/>
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.<ref name="brecorder24"/><ref>{{Cite web|url=https://www.afr.com/companies/the-smell-of-money-puts-daewoo-in-an-expansive-mood-19980914-kb493|title=The smell of money puts Daewoo in an expansive mood |first=Lucinda |last=Schmidt |date=September 14, 1998 |website=AFR}}</ref>
In 2005, PEL established a power transformer manufacturing facility with technical assistance from Ganz Works of Hungary.<ref name="powertech">{{Cite web |url=https://www.power-technology.com/contractors/power-distribution/pak-elektron-limited-pel/ |title=Pak Elektron Limited (PEL) |website=Power Technology}}</ref> In 2009, the company became the sole distributor of LG Corporation's home appliances in Pakistan.<ref name="brecorder24">{{Cite web |url=https://www.brecorder.com/news/40384179 |title=Pak Elektron Limited |website=Business Recorder |date=September 24, 2025}}</ref>
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.<ref>{{Cite web|url=https://www.worldbank.org/en/news/press-release/2018/02/22/world-bank-group-announces-debarment-of-pak-elektron-limited|title=World Bank Group Announces Debarment of Pak Elektron Limited|website=World Bank}}</ref><ref>{{Cite web|url=https://profit.pakistantoday.com.pk/2018/02/23/world-bank-debars-pak-elektron-for-33-months/|title=World Bank debars Pak Elektron for 33 months|author=Staff Report|date=23 February 2018|website=Profit by Pakistan Today|access-date=27 October 2024|archive-date=3 February 2023|archive-url=https://web.archive.org/web/20230203231822/https://profit.pakistantoday.com.pk/2018/02/23/world-bank-debars-pak-elektron-for-33-months/|url-status=live}}</ref> 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.<ref>{{Cite web|url=https://www.dawn.com/news/1391374|title=PEL, Kohinoor debarred from WB-funded project|first=The Newspaper's|last=Reporter|date=24 February 2018|website=DAWN.COM|access-date=27 October 2024|archive-date=2 November 2018|archive-url=https://web.archive.org/web/20181102142247/https://www.dawn.com/news/1391374|url-status=live}}</ref><ref>{{Cite web |title=World Bank Debarments for Misconduct in Southern Asia |url=https://natlawreview.com/article/world-bank-debarments-misconduct-southern-asia |website=The National Law Review}}</ref>
In 2020, PEL became a distributor of Panasonic products in Pakistan.<ref>{{Cite web|url=https://www.dawn.com/news/1560698|title=Panasonic, PEL partner up|first=The Newspaper's Staff|last=Reporter|date=June 2, 2020|website=DAWN.COM|access-date=4 February 2023|archive-date=4 February 2023|archive-url=https://web.archive.org/web/20230204072600/https://www.dawn.com/news/1560698|url-status=live}}</ref> In 2025, PEL commenced export operations to the United States.<ref>{{Cite web |date=2025-03-17 |title=Pakistani manufacturer PEL begins export operations to USA |url=https://www.brecorder.com/news/40353289/pakistani-manufacturer-pel-begins-export-operations-to-usa |access-date=2025-03-18 |website=Brecorder |language=en}}</ref>
==Power equipment== PEL's Power Division consists of three main products: * Energy meters<ref name="dawn2015">{{Cite web|url=https://www.dawn.com/news/1176963|title=PEL's expanding market|first=Dilawar|last=Hussain|date=April 20, 2015|website=DAWN.COM|access-date=4 February 2023|archive-date=4 February 2023|archive-url=https://web.archive.org/web/20230204070655/https://www.dawn.com/news/1176963|url-status=live}}</ref> * Transformers<ref name="dawn2015"/> * Switchgears<ref name="dawn2015"/>
==References== {{Reflist}}
==External links== * {{official website|http://www.pel.com.pk/}}
{{Home appliance brands}} {{Saigol Group}} {{KSE 100}} {{Portal|Companies}} {{Authority control}}
{{DEFAULTSORT:PEL Pakistan}} Category:Saigol Group Category:Manufacturing companies established in 1956 Category:Consumer electronics brands Category:Electronics companies of Pakistan Category:Electrical engineering companies of Pakistan Category:Home appliance manufacturers of Pakistan Category:Companies listed on the Pakistan Stock Exchange Category:Companies in the KSE 100 Index Category:Pakistani brands Category:Electric transformer manufacturers Category:1978 mergers and acquisitions Category:1980s initial public offerings Category:Pakistani companies established in 1956