Prime Minister Shehbaz Sharif on Monday directed the relevant authorities to expedite the privatization process of power distribution companies (DISCOs) and generation companies (GENCOs).
Chairing a meeting regarding power sector, the prime minister emphasized that the privatization of the energy system, leading to the establishment of a competitive electricity market, was the sustainable solution to the country’s energy issues.
During the meeting, the prime minister was told that measures were taken to privatize three distribution companies IESCO, FESCO and GEPCO and in this regard Expression of Interest (EoIs) will be published soon.
Prime Minister Shehbaz Sharif instructed to complete the relevant development projects on priority to further improve the power distribution system of the country.
To align the electricity system with modern requirements, the prime minister directed to initiate work on a Battery Energy Storage System through public-private partnerships and involvement of the private sector.
During the meeting, the prime minister was briefed on the progress of power sector roadmap, power generation, distribution, privatization of Discos and Gencos and other reforms being taken in the power sector.
The prime minister was told that PC-I of the 500 KV Ghazi Barotha-Faisalabad transmission line was at the approval stage.
Besides, the technical feasibility to shift the imported power plants to Thar Coal has been completed whereas work on the railway line to transport Thar coal to the power plants is also in progress.
The prime minister was also briefed on operationalization of a competitive electricity market.
The concept clearance proposal for the Battery Energy Storage System project has been approved, and the feasibility study is underway, the prime minister was informed.
The briefing added that as a result of continuous efforts, line losses had decreased compared to last year.
The meeting was attended by Federal Ministers Muhammad Aurangzeb, Ahad Khan Cheema, Sardar Awais Ahmed Leghari, Advisor Muhammad Ali, Minister of State for Finance Bilal Azhar Kayani and other senior officials of the relevant departments.