ISLAMABAD: Federal Minister for Privatisation, Fawad Hassan Fawad, held a meeting with the team of the International Finance Corporation (IFC) for the region headed by its Country Director Zeeshan Sheikh.

The meeting was attended by the secretary Privatisation Commission, the chairman National Electric Power Regulatory Authority, the additional secretary of the Power Division and other senior officers of the commission.

During the meeting, the IFC made a presentation to the participants sharing different best practices around the world to help the government reform power distribution utilities with a focus on improved customer services, reduction in losses and an enhanced user base.

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The IFC also highlighted in detail different reasons for the failure of governments to successfully undertake privatisation of power distribution utilities including lack of political will and absence of mechanisms including an efficient regulatory framework.

During the meeting, detailed deliberations were made on different options available for bringing in private sector efficiencies in the management of power distribution utilities.

The minister while thanking the IFC expressed that there was a need for seeking clear instructions from the prime minister/Cabinet in view of various decisions/instructions in the past and that it would be in the best interest of all stakeholders to come to that clarity before proceeding further.

Copyright Business Recorder, 2023