Lahore Electric Supply Company (LESCO) Board Thursday approved Rs8billion for smart electric meters installation project across the city to eliminate Electricity theft and overbilling, reported 24NewsHD TV channel.

The installation of smart meters will give the company a profit of Rs4.88billion in five years which will help prevent electricity theft and control line losses.

LESCO’s board of directors approved the smart meters project in light of the business plan and will be bearing the expenses of Rs8 billion for it.

The documents issued stated that the installed meters will be good and useful for the next 20 years and altering the readings or tempering them will be very near to impossible.