Govt notifies privatisation of all Discos
- By Web Desk -
- Aug 02, 2024
ISLAMABAD: The federal government has notified the privatization of 13 power distribution companies (DISCOs) as the Ministry of Energy unveiled a plan to privatize these entities in phases.
According to the notification, the Ministry of Energy has also issued directives for the privatization of 12 organizations in the power sector.
The privatization process will be carried out in phases, with the first phase involving the privatization of four Discos. The four power companies include FESCO, GEPCO, HESCO, and IESCO.
The second phase will include the privatization of MEPCO, PESCO, and other companies, as per the notification
The privatization process is expected to be completed in phases, with the government aiming to attract private investment in the power sector.
Earlier, the Cabinet Committee on State-Owned Enterprises approved the dissolution of the boards of nine government-run power distribution companies.
A notification for the dissolution of these boards was issued after the Cabinet ratifies the decision. The committee has approved the formation of new boards for nine out of the eleven state-owned power companies.
The Cabinet Committee’s approval came on the recommendation of the Board Nominations Committee, headed by the federal minister for Power, sources said. New boards will be formed for LESCO, FESCO, MEPCO, GEPCO, and ISECO, according to these sources.