ISLAMABAD (APP) - Islamabad Electric Supply Company (IESCO) has provided new electricity connections to 107,345 customers during last fiscal year. During the period, significant investment amounting to Rs 4.13 billion was made in secondary and transmissions and grids (STG) project and distribution of power and energy loss reduction programme for the up gradation of the system. According to an official of the company, during the year, the company also negotiated the loan of $ 58.496 million with World Bank for the financing of 2nd year of 6th STG programme and energy losses reduction programme. He said despite various challenges the company effectively managed its financial position by prudently managing the operating and maintenance expenses curtailing the transmission and distribution losses to 10.28 percent from 12.17 percent in the previous year resulting in a saving of millions of rupees. The figure of transmission and distribution losses was the lowest among all power distribution companies operating in the country, he added. He said the company maintained high recovery percentage, improved customer services besides execution of sixth secondary transmission and grid lines projects, energy loss reduction program and distribution of power. He said the revenue collection remained at 98% against the billing thereby continuing the past trends. He said the last fiscal year remained a challenging year for the entire power sector as during the year the country underwent power crises due to shortage in generation capacity, congested transmission network and worn out power distribution system. He said in addition to that the abnormal increase in oil prices internationally added fuel to the fire. He said due to low generation of electricity during last fiscal year, IESCO like other power distribution companies has to face severe shortage of electricity thus resulting the heavy load shedding. He said in order to mitigate the impact of load shedding, effective load management was made during the year.