Cabinet approves handing over Discos to private sector

Source: The News International

ISLAMABAD: The federal cabinet of the caretaker government has accorded approval to withdraw the decision of handing over electricity distribution companies to the provinces.

Instead, the source said that the federal cabinet decided to hand over electricity distribution companies to the private sector on a long-term concession basis. To start with Hyderabad Electric Supply Company and Gujranwala Electric Supply Company would be given control of the private sector.

On the other hand, it has also been decided to divide Lahore Electric Supply Company and Multan Electric Supply Company into two entities. " The Privatization Commission will play a leading role in their privatisation," the sources said. Meanwhile, the Cabinet has also approved the Rs 17 billion road project from Torkham to Jalalabad in Afghanistan. In this connection, a summary of the Ministry of Planning was also approved to allocate funds from the Public Sector Development Programme. The federal cabinet also cancelled an earlier decision to sell OGDCL shares.