PC’s briefing sought on managing DISCOs on Public Private Partnership basis
The Cabinet Committee on Privatization (CCOP) here on Tuesday directed Privatization Commission (PC) to present a detailed presentation on Public Private Partnership in management of power distribution companies (DISCOs) Federal Minister for Finance and Revenue, Miftah Ismail chaired the meeting of the committee, according to press statement issued by finance ministry. Among others, the meeting was attended by Federal Minister for Power, Khurram Dastgir Khan; Federal Minister for Commerce, Syed Naveed Qamar; Federal Minister for Privatization/Chairman Privatization Commission, Abid Hussain Bhayo; Special Assistant to the PM on Government Effectiveness, Dr. Muhammad Jehanzeb Khan, federal secretaries and senior officials. The privatization Privatisation Commission had tabled a summary related to Private sector participation in Management of DISCOs ((IESCO, FESCO and HESCO). Power Division was directed to carry out the complete evaluation of the assets of the DISCOs by the reputed valuation firm and to present synopsis of financial health of companies. The commission also presented a report of the sub-committee constituted by CCoP on privatisation of Services International Hostel (SIH). CCoP in its meeting on June 24, 2022 had constituted a sub-committee to review the Services International Hotel, Lahore (SIH) transaction. In the decision of the Sub-Committee, fresh valuation of the property was conducted through independent Punjab based valuer, M/s A. J Valuers Association (Pvt) Ltd. The CCoP after discussion directed Privatisation Commission to submit the summary through Ministry of Law and Justice. The CCoP deferred a summary related to addressing pending issues in the transaction closure- privatisation of Heavy Electrical Complex (HEC).
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