ISLAMABAD, Nov 19: Privatization and Investment Minister Dr Abdul Hafeez Shaikh has directed the financial advisers for Faisalabad Electric Supply Company (Fesco) and Jamshoro Power Company (JPC) to speed up the process of privatization in order to bring both the companies forward close to the bidding point by next month.

The minister was chairing a meeting to review the process of privatization of Fesco and JPC here on Wednesday. The meeting was attended by all the stakeholders and financial advisers.

The secretary of water and power ministry issued directives to all the corporate entities under the administrative control of his ministry in this regard.

The representatives of these entities — Pepco, NTDC, Wapda, JPC, Fesco, etc. — were also present during the meeting to resolve the issues in the shortest possible time.

The deadlines were set for certain steps to be taken for the completion of the task within the targeted period.

Nepra representatives informed the meeting regarding the steps taken to resolve the tariff related issues.

The matters pertaining to lenders’ consent for the loans spent on Fesco and JPC, transfer of assets, clearing of land titles, tariff determination, tax exemption, etc., were also discussed in detail.