Govt Set to Proceed With Privatization of DISCOs

Federal Minister for Privatization Abdul Aleem Khan has revealed that the government has made up its mind on the privatization of DISCOs where three entities i.e. HESCO, PESCO, and SEPCO will be offered for long-term concession. Khan held an interactive session with senior Journalists on Wednesday where they were briefed regarding the government’s policy, plan, and strategy for privatization. They were apprised of the developments on the ongoing transactions including PIACL, Roosevelt Hotel, HBFC, and the First Women Bank. The minister said the government is committed to openness and transparency in all of the privatization transactions. All the bidding will be telecast live for everyone to see. He said that PIA offers a very good opportunity for its buyer to earn profit given that it has great potential that only requires fresh investment. The minister praised the pilots of the national airline for being thorough professionals and experts in their field. He lamented the delays in the privatization of certain entities in the past and pointed to the fact that these delays have already cost losses to the tune of billions of rupees. The minister also apprised the journalists that the government has made up its mind on the privatization of DISCOs where three entities i.e. HESCO, PESCO, and SEPCO will be offered for long-term concession while six entities, IESCO, FESCO, GEPCO, LESCO, MEPCO, and HAZECO will be completely privatized through the sale and the Ministry of Privatization will initiate the process in due course in consultation with Power Division.