Deputy Prime Minister Ishaq Dar chaired a meeting of the Cabinet Committee on Privatisation, which decided to speed up the privatisation process of three major power distribution companies.
The committee directed the relevant authorities to complete consultations by the beginning of next week on the privatisation of Islamabad Electric Supply Company (Iesco), Faisalabad Electric Supply Company (Fesco) and Gujranwala Electric Power Company (Gepco).
The meeting reviewed in detail progress on the privatisation of the three companies. The Privatisation Commission was directed to complete consultations with the Power Division by the beginning of next week. The committee will then take a further decision on the privatisation process.
Proposals to include more government entities in the privatisation programme were also considered and approved with amendments to the recommendations of the Privatisation Division.
The Cabinet Committee also approved the budget of the Privatisation Commission with amendments.
The meeting reviewed the annual privatisation programme and the future course of action. Deputy Prime Minister Ishaq Dar directed the Privatisation Commission and all other relevant institutions to speed up implementation and ensure timely and effective coordination among the ministries and departments concerned.
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