ISLAMABAD: Energy Minister Owais Leghari has announced the privatization of power distribution companies, stating that in the first phase, the privatization of three DISCOs will take place.
Speaking at a press conference in Islamabad, the Energy Minister mentioned that talks are underway to convert Chinese power plants to run on local coal, and negotiations are ongoing regarding the reprofiling of loans for these Chinese power plants.
He further stated that there has been an improvement of 339 billion rupees in the circular debt, and a reduction in the losses of power distribution companies, leading to an improvement of 145 billion rupees.
Owais Leghari added that in the first phase, the privatization of three DISCOs will take place, including IESCO, GEPCO, and FESCO. In the second phase, privatization will occur for LESCO, SEPCO, and MEPCO.
The Energy Minister also stated that a project worth 55 billion rupees is underway in Baluchistan to convert tube wells to solar energy, agreements are being made for the provision of electricity to captive industries, and the privatization of Guddu and Nandipur power plants is in progress.
