ISLAMABAD: The government has expedited the process of phased privatization of electricity distribution companies (Discos) and launched international media advertisements seeking financial advisors for three power companies’ privatization.
The first phase of privatization will target Islamabad Electric Supply Company (Iesco), Faisalabad Electric Supply Company (Fesco) and Gujranwala Electric Power Company (Gepco).
On August 17, international advertisements were launched and interested parties were invited to submit technical and financial proposals by September 16. Federal Minister for Privatization and Investment Board Abdul Aleem Khan and Federal Minister for Energy Awais Leghari chaired a meeting on Tuesday to review the privatization process. Leghari directed that all issues necessary for Discos privatization be addressed promptly and that access to institutional data be provided to interested parties.
Aleem highlighted that the privatization would occur in stages, focusing on transparency and technical considerations. He stressed the aim to complete the process as quickly as possible.
The privatization secretary and senior officials presented the finalized schedule for Discos privatization, which would require approval from the cabinet committee concerned and the federal government. The discussion included the appointment of financial advisors, market sounding, restructuring levels and other key privatization issues. In a separate engagement, Aleem addressed the National Assembly’s Standing Committee on Communications. He acknowledged the significant traffic congestion on roads and stated that efforts were underway to address the issue in a coordinated manner. He noted that with focused efforts, the National Highway and Communications Departments could become profitable. He emphasized the potential within the Communications Department to generate revenue for the government. He advocated modernizing the department with an axle load control system and adopting a toll tax system. He pointed out that while toll tax systems were widely used globally to generate revenue through road infrastructure, Pakistan had not yet fully utilized this approach and remained behind in achieving substantial results.
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