Batch-I DISCOs restructuring plan approved

ISLAMABAD:

DPM/FM Ishaq Dar on Saturday chaired a meeting of the Cabinet Committee on Privatisation.

CCoP approved the Restructuring Plan for Batch-I DISCOs (FESCO, GEPCO & IESCO), including the carving out of DISCOs' land assets to the government-owned Power Holding Company, as a holding company.

DPM/FM directed the expeditious implementation of the plan, stressing that the government's privatisation initiative will help improve the quality of service provided by DISCOs & reduce losses.

The plan will be implemented through a Scheme of Arrangement (SoA) to be filed with the SECP.