PAK ELECTRON LTD. was established in 1956 with the technical collaboration of M/S AEG, West Germany . It is the oldest composite electrical equipment-manufacturing unit of Pakistan with the object of initially producing transformers, switchgears and electric motors. In 1962 after conclusion of joint venture agreement with AEG, total shareholding was purchased than by sponsors M/S Malik Brothers Limited.
In October 1978, PEL was taken over by SAIGOL GROUP OF COMPANIES, which is the largest and well-know industrial and commercial group in Pakistan Electron Ltd (PEL)