ISLAMABAD: The Senate Standing Committee on Privatisation was informed on Thursday that despite spending Rs250 million on the privatisation process of power distribution companies (Discos), not a single transaction has been completed.
Committee chairman Senator Tallal Badar expressed frustration over this wasteful expenditure, questioning the message it sends internationally. The Ministry of Energy briefed the committee on the proposed privatisation, with Senator Badar specifically questioning the stalled privatisation of Faisalabad Electric Company (Fesco), which had nearly been finalised in 2016-17 but remains incomplete.
Labour concerns were highlighted as a significant obstacle, with the committee chairman urging a review of the board’s performance and further investigation into the failure to privatise Fesco and Peshawar Electric Company (Pesco).
The committee also agreed to hold a joint meeting with the Senate Standing Committee on Power to address the shortcomings of the privatisation efforts. Regarding the Pakistan International Airlines Corporation Limited (PIACL) privatisation, the bidding process has been rescheduled for October 31 due to bidder concerns over legacy liabilities.
Story by Amin Ahmed
