Kathmandu, Feb. 7 -- The Nepal Electricity Authority slashed electricity leakage by 5 percentage points in the first five months of the current fiscal year. The state-owned power utility claimed that grid losses had dropped to 15.45 percent as of mid-December 2019 from 20.45 percent in mid-July 2018.

The power utility is required to reduce losses to 18.45 percent by the end of the current fiscal year as per the performance contract signed by Managing Director Kulman Ghising with the Energy Ministry, but it exceeded the target within five months.

"This is an historic achievement," Ghising told the Post. "It is the result of our effort to curb electricity theft and ongoing upgradation of the transformers, substations and transmission line...