The International Monetary Fund has reportedly started consultations with the Asian Development Bank and USAID on the proposed power sector''s privatisation plan, well-informed sources told Business Recorder. "Privatisation of Lesco, Gepco, Iesco, Fesco and Mepco is being actively considered by the IMF, ADB and USAID and there is a possibility of setting deadlines for sale of these companies," the sources added.
The sources said privatisation plan of Discos discussed by the IMF Board on Thursday in Washington. The three agencies are jointly working on conditionalities for privatisation of Discos. Earlier, Minister for Water and Power, Khawaja Asif had stated that privatisation of power sector companies will be offered as a package (one profit-making company and one loss-making Genco), however, the entire plan has now been changed.
In the Memorandum on Economic and Financial policies for 2013/14-2015/16 agreed between the GoP and the IMF, the government claimed that it would identify a number of companies that can quickly be privatised in the financial and energy sectors. The strategy, committed by the government, would include plans for block sales, secondary public offerings for institutional and general public or international listings.
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