Islamabad: Prime Minister Shehbaz Sharif has given instructions to give top priority to the interests of consumers in the privatization of DISCOs.
The Prime Minister chaired a review meeting on the privatization of electricity distribution companies (DISCOs) and the reform and restructuring of the Privatization Commission, in which he gave special instructions and said that an effective and comprehensive strategy should be adopted to ensure the involvement of world-class investors in the privatization of DISCOs.
Shehbaz Sharif said that the ongoing institutional reforms and restructuring work in the Privatization Commission should be completed within a month. The successful road shows held at home and abroad to involve investors in the privatization process are a source of satisfaction. All stages of privatization of DISCOs should be completed profitably within the stipulated time frame according to the set rules and best strategy.
He said that world-class financial, legal and information technology experts should be included in the workforce of the Privatization Commission. World-class manpower and experts will ensure effective measures to increase the efficiency of the Privatization Commission and investment in the institutions.
The Prime Minister said that the proposals of consultants with the best professional skills should be ensured in the privatization stages. All legal arrangements required to facilitate the privatization stages and the timely completion of the financial regulation framework should be ensured.
Speaking at the meeting, the Prime Minister gave instructions that the interests of consumers should be prioritized in the privatization process. A comprehensive and effective administrative structure for redressal of consumer complaints in the institutions involved in privatization should be ensured in the future.
Earlier, in the briefing given in the meeting, it was informed that road shows have been completed at home and abroad to interest investors in the transmission companies GEPCO, FESCO and IESCO included in the first phase of privatization. Roadshows in Turkey, Saudi Arabia and China and engagements with investors in the context of privatization are yielding encouraging results.
The meeting was briefed on the steps taken so far by the Privatization Commission to complete the first phase of transmission companies. Furthermore, the progress made in the institutional restructuring of the Privatization Commission on the involvement of the best manpower was also briefed.
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, Advisor to the Prime Minister on Privatization Muhammad Ali and officials of relevant government agencies.