ISLAMABAD: Board of the Privatisation Commission has approved restructuring and privatisation of one power generation company and two distribution companies (Discos), and decided to initiate the process of hiring financial advisers for the purpose.

A meeting of the board presided over by state minister and chairman of the commission, Muhammad Zubair, on Thursday considered and approved proposals for restructuring and privatising the Faisalabad Electric Supply Company, Hyderabad Electric Supply Company and a thermal power plant in Muzaffargarh.

Five of the six members of the board — Arsala Khan Hoti, Nasiruddin Ahmad, Zafar Iqbal Sobani, Farooq Khan and Zafar Iqbal — attended the meeting. Privatisation Secretary Amjad Ali Khan was present on the occasion.

The board also instructed the commission to reconstitute its panel of lawyers and approved an enhanced fee structure for the lawyers.

Thursday’s was the third meeting of the board since January. Of the nine public sector entities in the power sector the board has taken decisions on five so far.

The entities which have yet to be taken up by the board are the Islamabad Electric Supply Company, Jamshoro power generation company, Lakhra power generation company and Kot Addu power company.