ISLAMABAD: On Tuesday, the Senate Standing Committee on Privatization argued that Lahore Electric Supply Company Limited’s privatisation process needed to be accelerated (LESCO).
On Tuesday at Parliament House, the Senate Standing Committee on Privatization was held. The meeting was presided over by Senator Shamim Afridi.
The Privatization Commission Annual Report and briefings on the Land of Sindh Engineering Limited, Pak China Fertilizer Company, and Haripur KPK were among the topics discussed.
The Jinnah Convention Center privatization discussion got started, however, it paused because the Chairman CDA wasn’t present. For directing someone else to reply to inquiries that were passed to him, a Privilege Motion has been filed against him.
The Council of Common Interest (CCI) gave its approval to the LESCO Privatization Programme, which was introduced to the Committee in order to reduce ATC losses at each DISCO to the minimum levels permitted by NEPRA, enhance the standard of service delivery, and increase customer satisfaction.
After conducting research and reviewing the circumstances, the Cabinet Committee on Privatization (CCoP) instructed the Power Division to write to each province via the Ministry of Inter-Provincial Coordination (IPC) to initiate talks about the respective provinces purchasing the nine DISCOs in question.
The Committee noted the absence of the private sector and emphasized the necessity of its participation to increase process transparency.
The Committee was informed that the provincialization of the issue prevents the Privatization Commission from taking significant action. The Committee argued that the procedure needed to move more quickly.
The Committee was informed that a sizable portion of the land owned by Sindh Engineering Limited (SEL) in Kasur had already been sold by former owners as it was debating the matter.
The outcome of the case now rests with the courts. In its meeting on July 22, 2022, the Senate Standing Committee on Privatization received a comprehensive report; in accordance with its proposal, it was said that PC may write a letter to the judge of the Lahore High Court to request an expedited resolution of the problem.
The Legal Counsel Privatization Commission highlighted that PC is neither the owner nor a party to this action, thus any correspondence with the High Court could have a negative effect and be seen as an attempt to sway the legal system, the Committee was advised.
As the administrative Ministry, it would be acceptable if the Ministry of Industries and Production could write the Court directly.
The Committee was informed during its review of the Pak China Fertilizer Company, Haripur KPK, that the Islamabad High Court was handling the case. PC is doing everything possible to protect the Federal Government’s interests. The Court is being informed of the most recent outstanding amount.
The Committee emphasized the importance of making sure that all transactions can account for changes in inflation so that the State won’t suffer losses.
A strong mechanism’s development was focused. Senators Syed Muhammad Sabir Shah, Anwaar Ul Haq Kakar, Anwar Lal Dean, Molvi Faiz Muhammad, Umer Farooq, Saeed Ahmed Hashmi, and senior personnel from the Ministry of Privatization and its connected departments and agencies were present at the meeting.