The Prime Minister Nawaz Sharif chaired a meeting on privatization of DISCOs & GENCOs and the load shedding management

June 10, 2014

The Prime Minister Nawaz Sharif chaired a meeting on privatization of DISCOs & GENCOs and the load shedding management. Minister for Finance Mr. Muhammad Ishaq Dar, Minister for Water and Power Khawaja Asif, Secretary Water and Power Nargis Sethi, MOS Water & Power Abid Sher Ali, Chairman Privatization Commission Mr. Muhammad Zubair and Chairman Wapda Mr. Zafar Mehmood attended the meeting.

In the meeting the Prime Minister reviewed the road map for the privatization of the Discos and Gencos. Chairman Privatization Commission informed that on 28th April 2011 and 10th February 2014, the Council of Common Interests had already approved nine DISCOs and four GENCOs for privatization. The Prime minster said that; “In view of the keen interest shown by the foreign investors in Pakistan, there is no justification for further staggering the privatization process. The Prime Minister further observed that, “It is absolutely necessary to privatize DISCOs and GENCOs as soon as possible since there is no other way to cleanse the faltering system.

The Prime Minister while observing that the Privatization process in the energy sector had been much delayed directed the Chairman Privatization Commission to provide a clear roadmap and precise timelines for the privatization of DISCOs and GENCOs in the next metting in order to complete the entire process of privatization of Discos and Gencos by 30th June, 2015.

Prime Minister also reviewed the load shedding management. The Theft, losses, pilferages and corruption in the sector had not stopped. The Prime Minister directed Secretary Water and Power Ms. Nargis Sethi to actively enquire about scam unearthed by the FIA in which people of LESCO were over-billed for about Rs 16 bn. The Prime Minister directed Secretary Water and Power to also take action against those found in Rs3.2 bn embezzlement in DISCOs, and to investigate the purchase of transformers at exorbitantly high prices resulting in billions of rupees losses to the national exchequer.