PM wants privatisation of DISCOs, GENCOs by June 30 next year

ISLAMABAD: Prime Minister Nawaz Sharif chaired a meeting on privatisation of distribution companies (DISCOs) and generation companies (GENCOs) and the load management plan. Finance Minister Ishaq Dar, Water and Power Minister Khawaja Asif, Water and Power Secretary Nargis Sethi, Privatisation Commission (PC) Chairman Muhammad Zubair and WAPDA Chairman Zafar Mehmood attended the meeting. PC Chairman Zubair said that the Council of Common Interests had already approved privatisation of nine DISCOs and four GENCOs in its meeting held on April 28, 2011, and February 10, 2014. The prime minister said: “In view of the keen interest shown by the foreign investors in Pakistan, there is no justification for further staggering the privatisation process. It is absolutely necessary to privatise DISCOs and GENCOs as soon as possible since there is no other way to cleanse the faltering system.” Observing that the privatisation process in the energy sector had been much delayed, Prime Minister Nawaz directed the PC chairman to provide a clear roadmap and precise timelines for the privatisation of DISCOs and GENCOs in the next meeting in order to complete the entire process by June 30, 2015. The prime minister also reviewed the load management plan. He directed Secretary Nargis Sethi to actively follow-up scam unearthed by the FIA in LESCO besides the Rs3.2 billion embezzlement scam in DISCOs. 

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