April 26, 2021 (MLN): A fire broke out on Saturday, April 24, 2021 at the production facility of Pak Elektron Limited (PAEL) located at Ferozepur Road, Lahore as reported in the media. According to a notice issued by the company to Exchange, the fire started at the Assembly area of the fridge section and caused damage to some of the production facility, related building area, work in process and finished goods under dispatch. The initial assessment of the cause of fire break-out is short-circuiting.
Luckily, there was no loss of life and most of the appliances production area remained safe. Since raw material and finished goods inventory was stored in warehouses located at PEL-2 or off-site, all these remain safe. The assets damaged by fire are adequately insured and a survey of the true extent of losses is being carried out.
According to the initial estimate, production of the refrigerator is expected to resume in a few days. Insha'Allah, With the finished goods inventory of Refrigerators in hand, supply to the markets is not expected to be affected.
Production facilities of Air conditioners, Microwave ovens, washing machines and the entire production facility of the Power Division remained un-affected and are continuing uninterruptedly.
