ISLAMABAD: The Cabinet Com­mittee on Privatisation (CCoP) on Tuesday directed the Power Division to carry out the complete evaluation of the assets of three power distribution companies by a reputed valuation firm and present synopsis of their financial health. Chairing the CCoP meeting, Finance Minister Miftah Ismail directed the Privatisation Commission to present a detailed presentation on the public private participation in the management of the power distribution companies of Islamabad, Faisalabad and Hyderabad.

The commission also presented a report of the sub-committee constituted by the CCoP on the privatisation of Services International Hostel (SIH). As per decision of the sub-committee, fresh valuation of the property was carried out through an independent Punjab-based valuer, and after detailed discussions, the cabinet committee asked the privatization commission to submit the summary through the ministry of law and justice.

It may be recalled that the CCoP constituted a sub-committee in June to review the SIH transaction.

The cabinet committee deferred a summary related to addressing pending issues in the transaction closure- privatisation of Heavy Electrical Complex (HEC).

Minister for Power Khurram Dastgir Khan, Commerce Minister Syed Naveed Qamar, Privatisation Commission Chairman Abid Hussain Bhayo, Special Assistant to the Prime Minister on Government Effectiveness Dr Muhammad Jehanzeb Khan, federal secretaries and senior officials attended the meeting.

Published in Dawn, September 14th, 2022