Govt prioritizes transparency in DISCOs privatization: Minister

ISLAMABAD: Minister for Privatization Abdul Aleem Khan has said that the government is committed to openness and transparency in all of the privatization transactions, ARY News reported. 

He was speaking at media briefing in Islamabad during which the senior journalists were briefed regarding the government’s policy and strategy for privatization.

He said the government has decided the privatization of DISCOs and the Ministry will initiate the process in consultation with Power Division.

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 will be 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.