DISCOs’ privatisation discussed
Federal minister Fawad Hasan Fawad explained the government’s privatisation programme to World Bank officials, taking into account the legal mandate of the caretaker government. PHOTO: FILE
A team of World Bank officials, led by South Asia Practice Manager for Energy Simon Stolp, met with caretaker Federal Minister of Privatisation Fawad Hasan Fawad.
The primary focus of the meeting was the government’s privatisation agenda, with specific emphasis on the performance of power distribution companies (DISCOs), said a press release issued on Wednesday.
The federal minister explained the government’s privatisation programme, taking into account the legal mandate of the caretaker government, with the aim of assisting the struggling DISCOs and reducing the government’s financial burden through private sector investment.
He stressed the need for a two-step strategy for the privatisation of DISCOs, potentially involving a concessional model of management control with a subsequent divestment strategy.
Published in The Express Tribune, October 12th, 2023.
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