Sindh Govt to Hire Financial Advisors for Acquisition of HESCO and SEPCO

The Senate Standing Committee on Privatization, chaired by Senator Shammim Afridi, reviewed the matter of the privatization of power distribution companies (DISCOs) in Islamabad today.

Joint Secretary (Power Division) informed the committee that apart from Sindh, no province has supported the proposal to acquire DISCOs. The matter of privatization of DISCOs will be referred to the Council of Common Interests (CCI), he added.

Other officials briefed the committee on more details of the case. They conveyed Sindh Cabinet’s intention to purchase the two power utilities, Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Supply Company (SEPCO) that are being sold by the Privatization Commission.

Officials revealed that the Government of Sindh has decided to hire financial advisors for the acquisition of HESCO and SEPCO.

They added that the federal government will also appoint financial advisers along with the Privatization Division to expedite proceedings in this regard.