Prime Minister Shehbaz Sharif has directed to accelerate the privatization process of electricity distribution and generation companies.
Chairing a review meeting on power sector reforms in Islamabad today, PM Shehbaz emphasized that establishing a competitive electricity market through privatization is the only sustainable solution to the country’s energy challenges.
The Prime Minister instructed that development projects aimed at improving the electricity transmission system be completed on a priority basis. He further directed that work on the Battery Energy Storage System be initiated through public-private partnerships, with active participation from the private sector, to align the power system with modern-day requirements.
During the meeting, the Prime Minister was briefed on progress in electricity generation, transmission, privatization of DISCOs and GENCOs, and other reforms in the power sector.
It was told that steps are underway for the privatization of three distribution companies, including IESCO, FESCO and GEPCO, with Expressions of Interest to be published soon.
It was informed that the PC-1 of the 500 KV Ghazi Barotha-Faisalabad transmission line is in the approval stages to strengthen the transmission system. Technical feasibility for converting plants from imported coal to Thar coal has been completed, while work on the railway line to transport Thar coal to the plants is ongoing.
The meeting also reviewed the operationalization of a competitive electricity market.
It was apprised that as a result of continuous efforts, line losses have decreased compared to last year. The concept clearance proposal for the Battery Energy Storage System project has been approved and its feasibility study is currently in progress.
