Islamabad: Minister for Finance and Revenue, Muhammad Aurangzeb, has emphasized the government’s commitment to restructuring the power sector during a meeting with the Chairman of the Board of Directors of K-Electric, Mark Skelton, and other stakeholders. The minister highlighted the commencement of the privatization process for three distribution companies (Discos) and the goal to enhance efficiency through professional management and reduced government involvement.
According to Ministry of Information and Broadcasting, the meeting focused on the reconstitution of Boards of Directors of Discos by incorporating professionals from the private sector and minimizing the number of government nominees. This strategy aims to improve the boards’ efficiency and overall service delivery within the sector. Aurangzeb reiterated the government’s intention to ensure that private sector entities participate across all government-owned Discos and generation companies (Gencos), reflecting the administration’s broader vision to enable the private sector to lead the economy.
During the discussions, the K-Electric team presented their plans to integrate renewable energy into their generation mix, which is intended to reduce the cost of electricity for consumers in Karachi. They also informed the Minister about other initiatives aimed at enhancing service delivery to the city’s residents. These developments come as part of a broader effort by the government to reform and invigorate Pakistan’s power sector through privatization and increased efficiency.