PC Board recommends proposals for private sector’s participation in Discos management
ISLAMABAD-Privatisation Commission (PC) Board on Wednesday has finalized recommendations regarding private sector’s participation in management of Discos, which would be presented in Cabinet Committee on Privatization (CCOP).
Federal Minister for Privatization Mohammedmian Soomro chaired the meeting of Privatisation Commission (PC) Board in Islamabad. This was third PC Board meeting of the year 2021.The Board was briefed about the private sector’s participation in management of Discos in the light of the decisions and directions of the CCoP held on March 18, 2021. After detailed deliberations and discussion, Privatisation Commission Board recommended various proposals for private sector’s participation in management of Discos. The proposals were prepared and presented by the Working Group of Discos. The proposed recommended plan will be placed before the up-coming meeting of CCoP for consideration and further necessary actions.
In last CCoP meeting, the Privatization Division had presented various proposals regarding award of management contracts for smooth running of Discos in compliance with the earlier directive of the CCoP meeting of January 04, 2021. The management contracts would improve the service delivery and thus, serve the larger interest of electricity consumers in Pakistan. The Privatization Division also requested a permission to hire a transaction adviser for completing the previously mentioned tasks. After detailed discussion, the committee directed the concerned authorities to speed up the process of completion of prior actions pertaining to award of management contracts for Discos and present a roadmap with firmed-up proposals within a week, after seeking requisite approval from the Privatization Commission Board. Finance Minister Dr Abdul Hafeez Shaikh, while chairing CCoP meeting, had expressed displeasure over the pace and directed to expedite the process, as it was already very late and contributing to huge losses and accumulation of circular debt. The PC Board would now present the recommendations regarding private sector’s participation in management of Discos in next CCoP meeting. The committee also allowed hiring of a transaction adviser as permissible under the rules. The Board was also briefed about the latest progress made in the transactions of different entities.
Federal Minister for Privatisation Mohammedmian Soomro said that the purpose of private sector’s participation in Discos is to resolve power supply issues and make the services of power distribution companies competitive and better. He also thanked the Board members and other participants for their active and efficient role towards resolving the issues of the matter.
Privatization Board members, Federal secretary privatization, and senior officers also attended the meeting. Advisor to the Prime Minister on Power Tabish Gohar attended the meeting on special invitation.
Article source: https://nation.com.pk/25-Mar-2021/pc-board-recommends-proposals-for-private-sector-s-participation-in-discos-management