Islamabad: Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar chaired a meeting of the Cabinet Committee on Privatisation in Islamabad today. The Committee approved the Restructuring Plan for Batch-I Power Distribution Companies, including Faisalabad Electric Supply Company, Gujranwala Electric Power Company, and Islamabad Electric Supply Company.
According to Radio Pakistan, the plan involves transferring the land assets of the Power Distribution Companies to a Government-owned Power Holding Company as a holding company. The Deputy Prime Minister emphasized the need for the expeditious implementation of the plan, stating that the government's privatisation initiative is intended to enhance the quality of service provided by the Power Distribution Companies and reduce operational losses.
He further elaborated that the Restructuring Plan will be executed through a Scheme of Arrangement to be filed with the Securities and Exchange Commission of Pakistan. The meeting saw the participation of Federal Minister for Power Sardar Awais Ahmad Khan Leghari, Adviser to Prime Minister on Privatisation Muhammad Ali, Minister of State for Finance and Railways, Special Assistant to Prime Minister Tariq Bajwa, and other senior officials.