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Privatisation of Power sector entities is imperative for enhancing,
improving and upgrading the system capacities through quality players from the
private sector. Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation &
Investment stated this while chairing the Privatisation Commission Board
meeting here today.
The Minister said that there was immense need to improve the country's power
sector to bring in efficiencies for extending better services to the domestic
and commercial consumers. All stakeholders should be taken into confidence
before reaching any tariff formula and joint efforts were required to provide
comfort for the investor through effective measures, which should also take
due care of the consumer's interests, he added.
Dr. Hafeez Shaikh said that through the privatisation process the government
had reduced the fiscal burden and the losses and at the same time the
privatized entities had started contributing through generating revenues and
simultaneously adding value to the Government's remaining shareholdings in
such units. The government was committed to the economic structural reforms
process through the privatisation of the Public sector entities through a
transparent and competitive process, he said.
The PC Board recommended including Printing Corporation of Pakistan, various
units of Ministry of Water & Power and consider the option of package sale of
remaining industrial units to sustain the existing accelerated pace of the
privatisation process. The Privatisation Commission Board also reviewed the
progress and status of various other ongoing transactions.
The PC Board members, senior officials of Ministry of Finance, Water & Power,
NEPRA and PC attended the meeting.