The Government of Sindh formally approved the acquisition of Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO) from the federal government.
The decision was made at a Sindh cabinet meeting in Karachi, presided over by Sindh Chief Minister Syed Murad Ali Shah, reported ARY News.
During the meeting, Energy Minister Imtiaz Shaikh informed the cabinet that the Privatization Commission had previously decided to privatize all state-run distribution companies to private sector management, but has now decided to hand them over to the respective provincial governments.
Officials of the Minister of Energy told the cabinet that HESCO and SEPCO would be the country’s first DISCOs to be transferred to a provincial government.
In closing remarks, the Chief Minister of Sindh instructed the energy minister to appoint a consultant firm to survey the number of employees, sales growth, target losses, financial cost, and recovery ratio for both HESCO and SEPCO.