Govt dissolves PEPCO
61 viewsBy jazbablog - Fri Oct 01, 7:22 pm
ISLAMABAD: Federal government has dissolved Pakistan Electric Power Company (PEPCO) besides delegating financial and administrative powers to distribution companies.
Government has issued formal notification on this count while the fiscal and administrative powers will be transferred to four distribution companies including MEPCO, LESCO, FESCO and IESCO in the first phase.
Minister for water and power Raja Pervez Ashraf said country’s enterprises were bleeding since the last several decades and had become burden on national exchequer.
He went on to say that prime minister had constituted a committee for restructuring the entities . In the light of recommendations of this committee Prime Minister had decided to dissolve PEPCO, he indicated. All the distribution companies had been made independent and these would be responsible for power supply, revenue and other matters, he told. A steering committee has been set up to oversee this process, he hinted.
“ Our government believes in protecting the rights of workers which will not be allowed to be harmed When these companies will become able to stand on their feet then we will raise the salaries’, he said.
2 percent hike in power tariff is not a big raise, he said adding if our steps prove successful then we will start reducing power tariff”, he underlined.
Deputy chairman Planning Commission, Dr Nadim ul Haq said NEPRA amendment bill be passed in October under which NEPRA will be authorized to issue tariff notification without seeking any permission.
