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ISLAMABAD:
The privatization of major power sector assets, including two power plants and three electricity distribution companies (DISCOs), as well as the sale of a majority stake in Pakistan International Airlines (PIA), moved closer to completion on Thursday as officials briefed a Senate panel on the government’s roadmap and deadlines.
The Senate Standing Committee on Privatization, chaired by Senator Afnanullah Khan, was informed that Guddu and Nandipur power stations were fully prepared for privatization, while work had also been finalized for sale of Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO) in the first phase.
Separately, the secretary of the privatization commission briefed the committee on the proposed sale of PIA, saying that between 51 percent and 100 percent of the national carrier’s shares would be offered to investors.
He said that in the previous attempt, the potential investor was also required to settle debts worth Rs 33 billion, but this time the issue of unpaid dues and taxes was resolved.
He added that previous delays were due to failure to obtain general sales tax relief from the IMF in a timely manner.
