Islamabad:
The federal government has begun to prepare to privatize electricity distribution companies, including Lahore Electric Supply Company (Lesco) and Multan Electric Power Company (MEPCO).
According to official documents available with Express News, the Privatization Commission has sought detailed information from the Power Division as part of the process. Then MEPCO’s management has begun to streamline its balance and off-balance sheet items.
The Privatization Commission has asked the Power Division to present the latest financial audit reports to MEPCO. The company’s officials said the audit is approaching completion.
In addition, the Commission has asked for details of real estate stated in “Batch to”, including their legal status, income record and ownership information.
The Power Division has also been instructed to provide a full statement of assets, their valuation and information on business shares and property rights that are already underway.
The Commission has further sought comprehensive data on employees and pensioners, including the number of regular, contractual and daily payroll employees, their governing rules and regulations as well as the total number of pensioners and their outstanding quota.
In addition, the Commission wants details of obligations on each distribution company and the amount of receivables due to consumers and other stakeholders.
The official documents also mentioned that the Power Division has already initiated the process of transferring distribution companies shares and property titles.
