Privatisation Commission: PM Shehbaz directs completion of reforms within a month
- Chairs review meeting on the privatisation of power distribution companies
Prime Minister Shehbaz Sharif directed the Privatization Commission to complete reforms within a month, emphasizing timely and profitable privatization of power distribution companies with international investor participation and consumer protection.
- Privatization Commission reforms and timelines.
- International investor interest in power distribution companies.
- Ensuring profitability and consumer interests during privatization.
Prime Minister Shehbaz Sharif directed relevant authorities on Wednesday to complete the ongoing institutional reforms and restructuring of the Privatisation Commission (PC) within one month.
He said this while chairing a review meeting on the privatisation of power distribution companies and the institutional restructuring of the Privatisation Commission, as per a statement.
During the meeting, it was decided that roadshows were completed both domestically and internationally to attract investor interest in the first phase of the privatisation of power distribution companies, including GEPCO, FESCO, and IESCO.
The briefing further stated that roadshows and investor engagement activities in Türkiye, Saudi Arabia, and China have yielded encouraging results in the context of the privatisation process.
“An effective and comprehensive strategy should be adopted to ensure the participation of world-class investors in the privatisation of power distribution companies (DISCOs),” the PM directed.
He said that the successful roadshows conducted in Pakistan and abroad to attract investor participation in the privatisation process were encouraging.
“All stages of the privatisation of DISCOs should be completed within the stipulated timeframe, in accordance with established rules and best practices, while ensuring profitability,” the PM said.
He added that the privatisation commission’s workforce should be strengthened by including experts of international standards in finance, law, and information technology.
Moreover, the premier further said that recommendations from consultants with the highest level of professional expertise should be incorporated throughout the privatisation process.
“All required legal arrangements and the financial regulatory framework necessary to facilitate the privatisation process should be completed promptly.
Consumer interests should remain the top priority throughout the privatisation process,” PM Shehbaz said.
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