Prime minister , Shahbaz Sharif, on Tuesday chaired a meeting held here to review progress of sell-off of the public sector power distribution companies.
According to a handout issued by the Media Wing of the Prime Minister Office (PMO), the meeting decided to list three distribution companies (Discos) for privatisation including Islamabad Electric Supply Company (IESCO), Gujranwala Electric Supply Company (GESCO) and Faisalabad Electric Supply Company (FESCO).
Prime minister , Shahbaz Sharif , is actively pursuing the agenda of sell-off public sector companies which are running in loss for years and eating up trillion of rupee every year. Discos are also among those loss-making entities and the Shahbaz government is actively engaged in selling -off of all discos.
Power sector is one of the worst bleeding sectors of Pakistan and its causing roughly one trillion loss to the exchequer every year. Seeing the volume of the perpetual loss of tax money , Shahbaz government is following a conscious approach to sell –off all discos.
The Privatisation Commission authorities informed the meeting that expression of interest (EoIs) have already been sought from the interested parties for sell-off of listed three Discos and it would be followed by offering of other five Discos. The briefing also covered the financial health of Discos and their prospects for sell-off to the interested parties.
The meeting was told that the Privatisation Commission is going to hold roadshows in domestic and international market for attracting maximum number of interested parties and find a right party to run the listed Discos on modern lines.
Prime minister , Shahbaz Sharif , directed to the authorities of Privatisation Commission to expedite the process of offering Discos for sell-off. He said his government will pursue the agenda of disposing- off financially bleeding public sector entities.
