ISLAMABAD, Dec 9: The federal government has directed all the eight distribution companies (Discos) of Wapda to reconstitute their board of directors immediately by inducting maximum professionals from the private sector
to run these entities as purely commercial organizations.
A decision to this effect was reached here on Thursday at a meeting presided over by Minister for Water and Power Liaqat Ali Jatoi and attended by chief executives of all the Discos.
All the Discos were also directed to expedite the process of restructuring within stipulated time-frame which is December 31, 2004. The minister told the heads of Discos that the government was not in a position to pick up their huge system losses and provide subsidy any more and the companies would have to make themselves viable and profitable though good and efficient management.
He also urged for setting financial targets to improve management and financial health and to strengthen the customer services by introducing modern methods of billing, collection, pre-paid card for payment of billing, online payment of billing and efficient professional staff to yield good results.
He also said that human resource development was a key for success of any organization to transform and develop the companies into viable, profitable and financially stable entity.
The minister also emphasized provision of reliable, affordable and safe electricity to make industrial and agriculture sectors more competitive in the world market. He also directed replacement of old and long transmission lines system with new and short transmission lines and also asked for replacement of old transformers.
The meeting reviewed in depth the process of restructuring of these companies and decided that the process of restructuring, autonomy and financial independence should be completed in the stipulated time according to the directives of the president.
The minister was given separate presentations by all Discos regarding their performance, current status and five year investment plan. The minister assured full support and said that these companies would be given autonomous status to run independently on de-linking from Wapda and authorized them to take all decisions through their reconstituted and fully empowered boards. The meeting was also attended by Federal Secretary, Special Secretary, Ministry of Water and Power besides the CEOs of Discos.
