The federal government has finalised plan to privatize profit-making power distribution companies (Discos), VOS News reported on Saturday citing sources.
Sources in the power division told media that the Shehbaz-led coalition government has finalised the plan to privatize five profit-making power companies. The power companies include Lahore Electric Supply Company (LESCO), Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), Multan Electric Power Company (MEPCO) and Faisalabad Electric Supply Company (FESCO).
In first phase, government has decided to constitute new board for power companies, they say, adding that the privatization ministry has sent summary to cabinet regarding the formation of high-powered 12-member board for Discos privatization.
