January 18, 2003	Saturday	Ziqa'ad 14, 1423

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ISLAMABAD, Jan 17: Minister for Water and Power Aftab Ahmad Khan Sherpao has assured the IMF mission that all commitments made with the Fund officials in the past will be honoured by the new political government.

“We are committed to the continuance of reform programme in water and power sector as set by the previous government,” he said.

An official handout states that the mission led by George T. Abed, director Middle Eastern Department of the IMF, held its first meeting with the minister for water and power after arrival.

The water and power secretary and the Wapda chief were also present on the occasion.

Mr Sherpao said that creation of a policy committee— Pakistan Electric Power Company— was fully operational to manage the reform programme in the power sector.

The water and power secretary briefed the mission on privatization and said that the Faisalabad Electric Supply Corporation and Jamshoro Power Company had already been offered for privatisation. The Peshawar Electric Supply Corporation would also be offered for disinvestment soon, he added.

The Wapda chairman informed the IMF mission that Wapda’s revenue should exceed Rs200 billion this year. He pointed out that line loss had reduced from 42 per cent to 35 per cent, and that Wapda had achieved a 100 per cent recovery from the private sector.

The mission was offered to visit Wapda’s ongoing projects, such as Ghazi Barotha plan, to have first-hand knowledge about them. He said that donors’ money was not being wasted. The mission appreciated the efforts.

The IMF team is scheduled to meet PM’s Adviser on Finance Shaukat Aziz, Economic Adviser Dr Ashfaque Hasan Khan and senior officials on Saturday.