Minister Aleem Khan directs early privatization of DISCOs

ISLAMABAD: The Privatization Commission Board has sought a detailed presentation from the Ministry of Power to resolve the outstanding issues of power distribution companies (DISCOs) in advance.

The decision to expedite the privatization process came a day after the National Electric Power Regulatory Authority (Nepra) released its annual performance reports, which discussed the poor performance of the DISCOs in 2023-24, resulting in a loss of over Rs660 billion to the national exchequer.

The government has shortlisted nine power distribution companies – IESCO, FESCO, GEPCO, LESCO, MEPCO, HAZECO, HESCO, PESCO, and SEPCO – for the privatization program for 2024-29.

While chairing a meeting in Lahore, Minister for Privatization and Investment Abdul Aleem Khan directed the government to accelerate the pace of work on all privatization projects and complete them speedily and transparently.

He said that the services of renowned consulting firms should be sought to complete the process more efficiently.

The meeting decided on technical matters for the pipeline transaction, considered the appointment of financial advisors for various government companies, including the discos, and listened to the participants’ suggestions.

FAQ’s

1. Who is the Minister for Privatization?
Federal Minister for Privatization Abdul Aleem Khan today assumed charge of his post at the Privatization Division Islamabad.

2. Who started privatization in Pakistan?
Nawaz Sharif. On January 22, 1991, a large-scale privatization program was launched as a fundamental economic policy by Prime Minister Nawaz Sharif who came to national power after winning the 1990 general elections.

3. Who is Aleem Khan in Pakistan?
Abdul Aleem Khan is currently serving as a Member of the National Assembly after being elected from Constituency NA-117, Shahdara, Lahore in the general elections to be held on February 8, 2024. Abdul Aleem Khan owns PEMRA Samaa TV and Vision Group. He was also the Senior Minister and Food Minister of Punjab from 2020 to 2021.

Conclusion

The government is expediting the privatization of nine DISCOs after Nepra’s report on Rs660 billion losses. Minister Abdul Aleem Khan stressed transparency and efficiency with consulting firms’ support.