ISLAMABAD: The Cabinet Committee on Privatisation, chaired by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, approved a restructuring plan for three major electricity distribution companies. The plan aims to transfer land assets to a government-owned holding company, as part of efforts to improve service quality and reduce financial losses.

According to Radio Pakistan, the restructuring plan targets the Faisalabad Electric Supply Company, Gujranwala Electric Power Company, and Islamabad Electric Supply Company. It involves the creation of a Power Holding Company to manage the land assets of these distribution companies. The plan’s implementation will proceed through a Scheme of Arrangement to be filed with the Securities and Exchange Commission of Pakistan.

Deputy Prime Minister Dar emphasized the importance of swift implementation of the plan, highlighting its role in enhancing the efficiency and service quality of the electricity distribution sector. The meeting, held in Islamabad, included the attendance of Federal Minister for Power Sardar Awais Ahmad Khan Leghari, Adviser to the Prime Minister on Privatisation Muhammad Ali, Minister of State for Finance and Railways, Special Assistant to the Prime Minister Tariq Bajwa, and other senior officials.