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ISLAMABAD: The federal government has announced the privatization of 13 power distribution companies (DISCOs), with the Ministry of Energy revealing a phased plan for this process.
The notification indicates that the Ministry of Energy has also directed the privatization of 12 additional organizations within the power sector.
The privatization will proceed in stages, with the first phase focusing on four DISCOs: FESCO, GEPCO, HESCO, and IESCO.
The second phase will involve privatizing MEPCO, PESCO, and additional companies, according to the notification.
The privatization process will proceed, with the government aiming to attract private investment to the power sector.
Previously, the Cabinet Committee on State-Owned Enterprises approved the dissolution of the boards of nine government-run power distribution companies. A notification for this dissolution was issued following the Cabinet’s ratification of the decision. The committee has also approved the formation of new boards for nine out of eleven state-owned power companies.
This approval came based on the recommendation of the Board Nominations Committee, chaired by the federal minister for power. New boards will be established for LESCO, FESCO, MEPCO, GEPCO, and ISECO, according to sources.
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