Islamabad (HRNW)- Prime Minister Shehbaz Sharif has directed that the interests of consumers be given top priority during the privatization of electricity distribution companies (DISCOs).
The Prime Minister chaired a review meeting on the privatization of DISCOs and the reform and restructuring of the Privatization Commission, where he instructed officials to adopt a comprehensive and effective strategy to attract world-class investors to the privatization process.
Shehbaz Sharif directed that the ongoing institutional reforms and restructuring of the Privatization Commission be completed within one month. He expressed satisfaction over the successful roadshows held in Pakistan and abroad to attract investors and emphasized that all stages of DISCO privatization should be completed transparently, profitably, and within the stipulated timeframe in accordance with established rules and best practices.
The Prime Minister further instructed that internationally recognized financial, legal, and information technology experts be included in the Privatization Commission’s workforce to enhance its efficiency and strengthen efforts to attract investment.
He also stressed the importance of appointing consultants with the highest professional expertise and ensuring that all legal requirements and the financial regulatory framework are completed on time to facilitate the privatization process.
During the meeting, the Prime Minister specifically directed that consumer interests must remain the foremost priority and instructed that an effective administrative mechanism be established to address consumer complaints in institutions that are privatized in the future.
Officials informed the meeting that roadshows have been completed in Pakistan and overseas to attract investors for GEPCO, FESCO, and IESCO, which are included in the first phase of privatization. Encouraging responses have been received from investors during roadshows held in Turkey, Saudi Arabia, and China.
The meeting was also briefed on the progress made in the first phase of DISCO privatization and the recruitment of skilled professionals as part of the Privatization Commission’s institutional restructuring.
The meeting was attended by Federal Minister for Information and Broadcasting Sardar Owais Ahmed Khan Leghari, Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Information Technology Shaza Fatima Khawaja, Adviser to the Prime Minister on Privatization Muhammad Ali, and senior officials of relevant government departments.
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