The federal cabinet has approved the privatization of 13 entities under the Power Division, including nine power distribution companies.

The federal cabinet has also approved the inclusion of power generation companies (GENCOs) in the privatization plan. Additionally, the cabinet granted approval to declare six Power Division entities, including Power Holding Limited and Central Power Purchasing Agency, as ‘nationally important entities’.

The cabinet has also approved the restructuring of four Power Division entities, including the Quetta Electric Supply Company and Tribal Electric Supply Company. The restructuring of the Islamabad-based entities NTDC and NESPAK has also been approved.

However, the Quetta Electric Supply Company and Tribal Electric Supply Company were excluded from the privatization list.

Earlier in May, Prime Minister Shehbaz Sharif announced that Pakistan will privatize all state-owned enterprises, expanding the initial plans to only take loss-making state firms private. The Prime Minister stated that the government’s role is to create a business and investment-friendly environment, rather than directly engaging in business activities.

Meanwhile, Prime Minister Shehbaz Sharif has said that a strategy is being implemented to attract foreign direct investment for building information technology infrastructure in Pakistan. He expressed the government’s determination to make Pakistan a leading country in the region in the domain of artificial intelligence infrastructure.

The federal cabinet has approved the reorganization of 4 institutions under the Power Division. This includes the Quetta Electric Supply Company and the Tribal Areas Electric Supply Company, which will be restructured.

Additionally, the National Transmission and Dispatch Company (NTDC) and NESPAK will also be restructured as part of this reorganization plan.

Furthermore, the cabinet has declared the National Energy Efficiency and Conservation Authority (NICA) and the Civil Power and Infrastructure Board (PPIB) as statutory bodies.

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