Discos batch-I: CCoP approves restructuring plan
ISLAMABAD: The Cabinet Committee on Privatisation (CCoP) approved the Restructuring Plan for Batch-I Discos (FESCO, GEPCO & IESCO), including carving out of Discos’ land assets to the Govt-owned Power Holding Company, as a holding company. Deputy Prime Minister/ Foreign Minister Senator Mohammad Ishaq Dar chaired a meeting of CCoP on Saturday. He directed expeditious implementation of the Plan,…
On Saturday, the Cabinet Committee on Privatisation (CCoP) in Islamabad approved a Restructuring Plan for the Pilot Discos (FESCO, GEPCO & IESCO). The meeting was chaired by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar. The Plan includes removing Discos' land assets as a holding company of the Government-owned Power Holding Company.
Dar emphasized the expeditious implementation of the Plan, stating that the government's privatization initiative will improve the quality of service provided by Discos and reduce losses. The Plan will be carried out through a Scheme of Arrangement (SoA) to be filed with the Securities and Exchange Commission of Pakistan (SECP).
The meeting also included Federal Minister for Power Sardar Awais Ahmad Khan Leghari, Minister of Finance Muhammad Aurangzeb, Adviser to the Prime Minister on Privatisation Muhammad Ali, Minister of State for Finance & Railways, SAPM Tariq Bajwa, Secretary of Power, Secretary of Privatisation Commission, Secretary of Privatisation, Secretary of Commerce, Secretary of EAD, and senior officials from the Ministry of Finance, Federal Board of Revenue, and other relevant departments.
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