Govt plans long-term concessions for HESCO, PESCO, SEPCO

July 04, 2024 (MLN): The Privatization Minister Abdul Aleem Khan informed journalists on Wednesday that the government has made up its mind on the privatization of DISCOs where three entities i.e. HESCO, PESCO and SEPCO will be offered for long-term concession.

Moreover, six entities—IESCO, FESCO, GEPCO, LESCO, MEPCO and HAZECO will be completely privatized through sale and the Ministry of Privatization will initiate the process in due course in consultation with Power Division.

During the briefing session, the journalists were informed about the government’s policy, plan and strategy for privatization.

They were apprised of the developments on the ongoing transactions including PIACL, Roosevelt Hotel, HBFC and the First Women Bank.

The Federal Minister declared that the government is committed to openness and transparency in all of the privatization transactions. All the bidding will be telecast live for everyone to see.

The Minister expressed that PIA offers a very good opportunity for its buyer to earn profit given that PIA has great potential that only requires fresh investment.

The Federal Minister praised the pilots of the national airline for being thorough professionals and experts in their field.

The Federal Minister lamented the delays in privatization of certain entities in the past and pointed to the fact that these delays have already costed losses that amount in billions of Rupees.

The Secretary, Privatization Division and the Secretary, Privatization Commission were also present during the interaction.

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