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The Federal Minister for Privatisation and Investment Dr. Abdul Hafeez
Shaikh has directed the Financial Advisors for Faisalabad Electric Supply
Company (FESCO) and Jamshoro Power Company (JPC) to speed up the process of
the privatisation of both the entities to bring forward both companies close
to the bidding point by next month. He was chairing a meeting to review the
process of privatisation of Faisalabad Electric Supply Company (FESCO) and
Jamshoro Power Company (JPC) here today. The meeting was attended by the
entire stakeholders and financial advisors appointed for these
transactions.The Secretary, Ministry of Water & Power who was the key
participant issued directions to all the Corporate entities under the
administrative control of his Ministry who were also present in the meeting
i.e. PEPCO, NTDC, WAPDA, JPC, FESCO etc. to resolve these issues in the
shortest possible time. The deadlines were set for certain steps for the
completion of the task within the targeted period. NEPRA representatives
informed the meeting regarding the steps taken to resolve the tariff related
issues. The matters pertaining to lenders' consent for the loans spent on
FESCO and JPC, transfer of assets, clearing of land titles, tariff
determination, tax exemption etc. were also discussed in detail. The Minister
hoped that the speedy follow up of the decisions taken and the directions
issued wouldensure timely closing of these privatization transactions.