Privatising DISCOs
The government is moving forward with the privatisation of all ten DISCOs (electricity distribution companies), citing inefficiency and financial losses as key reasons. However, Iesco (Islamabad Electric Supply Company) presents a contrasting case, currently showing a surplus of millions of rupees. According to an advertisement in national pages of The News International on October 5, Iesco issued a proposal for investment of Rs1,696 million.
This raises an important question: why privatise a company that is operating profitably and has such significant surplus funds? It is also puzzling why, at a time when the divestment of Iesco is at an advanced stage, the company is opting to invest such a large sum. Privatisation under these circumstances could potentially lead to a scandal at any point in the process.
Hussain Siddiqui
Islamabad
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