Govt to Sell Three DISCOs in First Phase of Privatization

Federal Minister for Privatization, Board of Investment and Communications Abdul Aleem Khan recently presided over the meeting of the Privatization Commission Board in which important decisions were approved. Issues related to the privatization of DISCOs and other institutions including PIA came under discussion in this meeting. Privatization Commission Board unanimously decided that in the first phase, 3 power distribution companies (DISCOs) will be privatized for which practical work has already been started and all legal matters will be completed by January 2025. Moreover, PCB also approved hiring Financial Advisors for these DISCOs and moving forward accordingly. Federal Minister Abdul Aleem Khan directed the Privatization Commission Board to ensure the completion of the process for the institutions entrusted to them for privatization as soon as possible and ensure a transparent manner in this regard. He said that the restoration and strengthening of the country’s economy depends upon the privatization of those countries being run in deficit. Abdul Aleem Khan claimed that the process of privatization would practically reduce the burden on the national exchequer. Federal Minister for Privatization said that there is a strong possibility of making the enterprises that are being transferred to the private sector to make them profitable. He indicated that privatization of PIA is very important as it would express the seriousness of the private sector regarding privatization and it will make it easier for other institutions to be privatized. The meeting of the Privatization Commission Board was attended by the Federal Secretary for Privatization, the Members of the PCB, and the senior officers who unanimously approved the important decisions related to the privatization. Federal Minister Abdul Aleem Khan expressed satisfaction with the overall performance and observed that all the targets should be achieved on time while final recommendations will be sent to the Cabinet Committee CCoP for final approval.