CCoP seeks public private partnership management plan for 3 Discos

September 13, 2022: The Cabinet Committee on Privatization (CCoP) on Tuesday directed the Privatisation Commission to present a public private partnership management plan of three power distribution companies (Discos).

The CCoP, which met here with Minister for Finance and Revenue Miftah Ismail in the chair, took the decision after a detailed deliberation on a proposal tabled by the Privartisation Commission for the private sector's participation in the management of IESCO, FESCO and HESCO.

The meeting was attended by Minister for Power Khurram Dastgir Khan, Minister for Commerce Syed Naveed Qamar, and Minister for Privatization and Chairman Privatization Commission Abid Hussain Bhayo and Special Assistant to the Prime Minister on Government Effectiveness Dr Muhammad Jehanzeb Khan, besides federal secretaries and senior officials.

The CCoP directed the Power Division to carry out the complete evaluation of the assets of three Discos by a reputed valuation firm and present synopsis of their financial health.

The Privatisation Commission presented a report of the sub-committee constituted by the CCoP, in its meeting on June 24, on the privatisation of Services International Hostel (SIH), Lahore.

As per the sub-committee's decision, a fresh valuation of the property was conducted through an independent Punjab-based valuer, M/s A J Valuers Association (Pvt) Ltd.

The CCoP after discussion directed the Privatisation Commission to submit the summary through the Ministry of Law and Justice.

The committee deferred a summary related to addressing pending issues in the transaction closure-privatisation of Heavy Electrical Complex.

APP