CCoP Directs Power Division to Evaluate Assets of DISCOs

The Cabinet Committee on Privatization (CCoP) has asked the Power Division to carry out the complete evaluation of the assets owned by ex-WAPDA Distribution Companies (DISCOs) through a reputed valuation firm and to present a synopsis of the financial health of companies.

The meeting of CCoP, chaired by Finance Minister Miftah Ismail, was apprised by the Privatization Commission (PC) about the private sector’s participation in the management of DISCOs. The committee directed PC to give a detailed presentation on Public Private Partnership (PPP) in the management of DISCOs (IESCO, FESCO and HESCO).

PC also presented a report of the sub-committee constituted by the CCoP regarding the privatization of Services International Hostel (SIH) Lahore. CCoP in its meeting on 24th June 2022 constituted a sub-committee to review the SIH transaction. As per the decision of the sub-committee, a fresh valuation of the property was conducted through an independent Punjab-based valuer, M/s A. J Valuers Association (Pvt) Ltd. The CCoP after discussion directed Privatisation Commission to submit the summary through Ministry of Law and Justice.

The CCoP deferred a summary related to pending issues in the transaction closure of privatization of Heavy Electrical Complex (HEC).

The CCoP meeting was attended by Federal Minister for Power Khurram Dastgir, Federal Minister for Commerce Syed Naveed Qamar, Federal Minister for Privatization and Chairman PC Abid Hussain Bhayo, Special Assistant to the PM on Government Effectiveness Dr. Muhammad Jehanzeb Khan, federal secretaries and other senior officials.