Dissolution of Pakistan Electric Power Company discussed in a high-level meeting
Islamabad: In a high-level meeting under the chairmanship of the Minister of Water and Power, in the Ministry of Water and Power (MWP) the issue of the dissolution of PEPCO was discussed. Representatives from the Economic Reform Unit (ERU), Planning Commission and PEPCO attended the meeting to review the timeline for transferring the functions of PEPCO and adjustment of the staff. The meeting showed satisfaction on the ongoing process of dissolution and agreed to strengthen the process going forward.
A four step process initiated for dissolution of PEPCO in September 2010 was discussed in detail. Phase one relating to reconstitution for Boards of Distribution Companies DISCOs and National Transmission and Distribution Companies (NTDC) has successfully been completed. This has ensured operational independence to power sector companies as envisaged in the power sector reform plan.
Phase two has been started by winding departments within PEPCO and reducing PEPCO’s involvement in National Transmission and Dispatch Company (NTDC) and Central Power Purchasing Agency (CPPA) and transferring of powers to other entities. In the meantime the strengthening of CPPA and NTDC is being undertaken to strengthen the ongoing reform process. By late summer, the remaining departments will be disbanded concluding phase 3. Finally, Phase 4 relating to declaration of solvency will complete the dissolution process.
The meeting reiterated its commitment to the dissolution of PEPCO in the four phases under the reform plan developed by the Government of Pakistan.
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