The Federal Cabinet has greenlighted the privatisation of 13 entities under the Power Division, including nine power distribution companies.
Out of the 11 government-owned power distribution companies, nine have been included in the privatisation list. However, Quetta Electric Supply Company and Tribal Electric Supply Company were excluded from the list.
Furthermore, the cabinet also approved the inclusion of power generation companies (GENCOs) in the privatisation list.
The cabinet also granted approval for declaring six Power Division entities as ‘national important entities’, which include Power Holding Limited and Central Power Purchasing Agency.
Moreover, the cabinet has approved the restructuring of four Power Division entities, including Quetta Electric Supply Company and Tribal Electric Supply Company. The restructuring of Islamabad-based entities NTDC and NESPAK has also been approved.
Earlier in May, Prime Minister Shehbaz Sharif announced that Pakistan will privatise all state-owned enterprises, broadening its initial plans to take only loss-making state firms private.
Chairing a meeting on the privatisation process of loss-making state enterprises, the premier said that the government’s job is not to do business but to ensure a business and investment friendly environment.
Meanwhile Prime Minister Shehbaz Sharif has said a strategy is being implemented to attract the Foreign Direct Investment for building Information Technology infrastructure.
Talking to a three-member delegation of Asia Internet Coalition, led by Managing Director Jeff Paine in Islamabad Wednesday, the Prime Minister said the government is working on the promotion of the fundamental infrastructure based on Artificial Intelligence.
He expressed determination to make Pakistan a leading country in the region in the domain of artificial intelligence infrastructure.
