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Pakistan to announce power sector privatization in US Thursday

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.

The author is working as Editor Digital Media for Daily Pakistan and can be reached @ItsSarfrazAli.

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Today Open Market Currency Rates - Pak Rupee to US Dollar, Euro, Pound, Riyal - 23 June 2024

Pakistani rupee rates against US Dollar and other currencies on June 23, 2024 (Saturday) in open market.

USD to PKR Rate Today

US dollar was being quoted at 277.7 for buying and 280.85 for selling.

Euro's buying rate stands at 294.3 and selling rate is 297.9 while British Pound rate is 352 for buying, and 355.5 for selling.

UAE Dirham AED was at 75 and Saudi Riyal at 72.85.

Currency Rates in Pakistan

Currency Symbol Buying Selling
US Dollar USD 277.7 280.85
Euro EUR 294.3 297.9
UK Pound Sterling GBP 352 355.5
U.A.E Dirham AED 75 75.8
Saudi Riyal SAR 72.85 73.6
Australian Dollar AUD 182.2 184
Bahrain Dinar BHD 740.98 748.98
Canadian Dollar CAD 202 204
China Yuan CNY 38.4 38.8
Danish Krone DKK 40.15 40.55
Hong Kong Dollar HKD 35.68 36.03
Indian Rupee INR 3.34 3.45
Japanese Yen JPY 1.9 1.98
Kuwaiti Dinar KWD 908.7 917.7
Malaysian Ringgit MYR 59.07 59.67
New Zealand Dollar NZD 170.98 172.98
Norwegians Krone NOK 26.38 26.68
Omani Riyal OMR 723.75 731.75
Qatari Riyal QAR 76.53 77.23
Singapore Dollar SGD 202 204
Swedish Korona SEK 26.68 26.98
Swiss Franc CHF 315.21 317.71
Thai Bhat THB 7.59 7.74

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