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ISLAMABAD:
The privatisation of major power sector assets, including two power plants and three electricity distribution companies (DISCOs), along with the sale of a majority stake in Pakistan International Airlines (PIA), moved closer to execution on Thursday as officials briefed a Senate panel on the government’s roadmap and timelines.
The Senate Standing Committee on Privatisation, chaired by Senator Afnanullah Khan, was informed that Guddu and Nandipur power plants were fully prepared for privatisation, while work had also been finalised for the sale of Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO) in the first phase.
Separately, the secretary of the privatisation commission briefed the committee on the proposed sale of PIA, stating that between 51 per cent and 100 per cent of the national carrier’s shares would be offered to investors.
He said that during the previous attempt, the prospective investor had also been required to clear liabilities worth Rs33 billion, but this time, both the issue of outstanding dues and taxes had been resolved.
He added that earlier delays were caused by the failure to secure timely relief on the general sales tax from the IMF.
