Dar chaired a meeting of the Cabinet Committee on Privatization in Islamabad, where progress on the proposed sale of three power distribution companies was reviewed
By Pervaiz Mughal
ISLAMABAD: Deputy Prime Minister and Foreign Minister Ishaq Dar directed authorities to accelerate the privatization process and take timely decisions to advance the government’s structural reform agenda.
Dar chaired a meeting of the Cabinet Committee on Privatization in Islamabad, where progress on the proposed privatization of three power distribution companies was reviewed.
The meeting examined the status of the Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO). The committee directed the Privatization Commission to complete its consultation process with the Power Division by early next week.
The directive came as the government continued efforts to reform state-owned entities and improve the efficiency of public-sector institutions. The privatization program has remained a key part of the government’s broader economic reform agenda.
The committee also considered proposals to include additional entities in the privatization program. It approved the proposals submitted by the Privatization Division, with certain modifications.
The budget of the Privatization Commission was also presented before the committee. After consideration, the committee approved it with amendments.
The meeting further reviewed the annual privatization program and discussed the way forward for implementing the government’s plans. Dar directed the commission to expedite the process and ensure that consultations and other procedural requirements were completed within the agreed timelines.
He stressed the need for timely action to prevent delays and maintain momentum in the implementation of the privatization program.
The government has been pursuing structural reforms aimed at improving the performance of state-owned enterprises, reducing inefficiencies and strengthening the wider economy. The proposed privatization of power distribution companies has been presented as part of these efforts.
The committee’s latest directives were expected to speed up work on IESCO, FESCO and GEPCO while allowing the government to move ahead with the wider privatization program.
Dar called for close coordination between the Privatization Commission and relevant ministries so that outstanding issues could be resolved promptly and the reform process could proceed according to schedule.
