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Pakistan to announce power sector privatization in US Thursday

Sarfraz Ali 12:37 PM | 7 Oct, 2015
Pakistan to announce power sector privatization in US Thursday
WASHINGTON (APP) - Chairman Privatization Commission Mohammad Zubair will announce Pakistan’s power sector privatization programme at a roadshow being held in Washington on Thursday (Oct 8).

The Chairman arrived in the US capital this week accompanied by Secretary Privatization Commission, Ahmad N Sukhera, Secretary Ministry of Water and Power, Mohammad Younus Dagha and Senior Advisor NEPRA, Hussnain Zaigham to participate in the event.

Pakistan’s government is pursuing an ambitious privatization programme in the power sector and is exploring various means of private sector participation in its thermal generation companies (Gencos) and distribution companies (Discos).

The event titled ‘Market Consultation: Pakistan’s Power Sector Privatization Roadshow’ is aimed at sharing and creating awareness about Pakistan’s power sector privatization programme in the international stakeholder community and to seek their feedback.

Financial advisors for each of the transactions proposed have already been engaged by the Government.

The event, to be held at the Ronald Reagan International Trade Centre, is being organised by Pakistan’s Privatization Commission with the support of the World Bank, the United States Energy Association and the US-Pakistan Business Council.

According to the official website of the Privatization Commission, the proposed power sector entities for divestment with management control include Faisalabad Electric Supply Co Ltd (FESCO); Northern Power Generation Co Ltd (NPGCL-GENCO-III) – Thermal Power Station (TPS) Muzaffargarh (1350 MW); Lahore Electric Supply Company Limited (LESCO); Islamabad Electric Supply Company Limited (IESCO) and; Quetta Electric Supply Company Limited (QESCO).

Also on the list are Lakhra Power Generation Company Ltd (LPGCL) (GENCO-IV); Peshawar Electric Supply Company Limited (PESCO); Central Power Generation Company Ltd (CPGCL) (GENCO-II) and Multan Electric Power Company Limited (MEPCO).

In a Letter of Intent sent to the International Monetary Fund and posted on its official website, the Finance Ministry informed the IMF that the government has already transferred governance of DISCOs, three GENCOs, and the NTDC to new boards of directors and management.

“We have included several DISCOs in our privatization plans with the goal of privatizing three of them in the next fiscal year,” the Ministry said.

It further added that the government has begun the process of introducing competitive pricing and direct contracting between power producers and wholesale customers in the power sector.

Sarfraz Ali
Sarfraz Ali

Sarfraz Ali is working as Editor Web for Daily Pakistan. He earned a postgraduate degree in Mass Communication from IUB and diploma in International Print Journalism from Thomson Foundation UK. He regularly writes on ...

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KARACHI - Following are the foreign currency exchange rates for US Dollar, Saudi Riyal, UK Pound Sterling, U.A.E. Dirham, European Euro, and other foreign currencies in Pakistan open market on February 4, 2023 (Saturday).

Source: Forex Association of Pakistan. (last update 09:00 AM)

Currency Symbol Buying Selling
US Dollar ‎USD 279.9 283.2
Euro EUR 300.98 301.58
UK Pound Sterling GBP 337.01 337.71
U.A.E Dirham AED 75.14 75.44
Saudi Riyal SAR 73.55 73.85
Australian Dollar AUD 189 192
Bahrain Dinar BHD 712.72 720.69
Canadian Dollar CAD 200 202.2
China Yuan CNY 39.67 39.73
Danish Krone DKK 39.33 39.73
Hong Kong Dollar HKD 34.19 34.54
Indian Rupee INR 3.28 3.39
Japanese Yen JPY 2.5 2.54
Kuwaiti Dinar KWD 878 887
Malaysian Ringgit MYR 62.83 63.43
New Zealand Dollar NZD 173.25 175.25
Norwegians Krone NOK 26.79 27.09
Omani Riyal OMR 696.08 704.08
Qatari Riyal ‎QAR 73.62 74.32
Singapore Dollar SGD 204 206
Swedish Korona SEK 25.61 25.91
Swiss Franc CHF 291.69 294.19
Thai Bhat THB 8.15 8.30

KARACHI – The price of a single tola of 24-karat gold in Pakistan is Rs 205,200 on Saturday. The price of 10 grams of 24k gold was recorded at Rs175,930.

Likewise, 10 grams of 22k gold were being traded for Rs167,318 while a single tola of 22-karat gold was being sold at Rs 195,157.

Note: The gold rate in Pakistan is fluctuating according to the international market so the price is never been fixed. The below rates are provided by local gold markets and Sarafa Markets of different cities.

City Gold Silver
Lahore PKR 205,200 PKR 2,430
Karachi PKR 205,200 PKR 2,430
Islamabad PKR 205,200 PKR 2,430
Peshawar PKR 205,200 PKR 2,430
Quetta PKR 205,200 PKR 2,430
Sialkot PKR 205,200 PKR 2,430
Attock PKR 205,200 PKR 2,430
Gujranwala PKR 205,200 PKR 2,430
Jehlum PKR 205,200 PKR 2,430
Multan PKR 205,200 PKR 2,430
Bahawalpur PKR 205,200 PKR 2,430
Gujrat PKR 205,200 PKR 2,430
Nawabshah PKR 205,200 PKR 2,430
Chakwal PKR 205,200 PKR 2,430
Hyderabad PKR 205,200 PKR 2,430
Nowshehra PKR 205,200 PKR 2,430
Sargodha PKR 205,200 PKR 2,430
Faisalabad PKR 205,200 PKR 2,430
Mirpur PKR 205,200 PKR 2,430

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