In a meeting here on Wednesday Dr Abdul Hafeez Shaikh, Federal Minister for Privatisation and Investment, and Aftab Ahmad Khan Sherpao, Minister for Water and Power reviewed the status of privatisation of Karachi Electric Supply Company (KESC) and Wapda entities, including Faisalabad Electric Supply company (Fesco), Jamshoro Power Company (JPC) and Peshawar Electric Supply Company (Pesco).

The meeting identified issues hindering the process to facilitate bidding by June 2004.

The meeting was also attended by Iftikhar-ul-Haq, Member Privatisation Commission, the Secretaries of Ministries of Privatisation and Water & Power, the Chairman of Wapda, Chief Executives of Pepco, JPC, Fesco, KESC and Pesco, representatives of Nepra and Financial Advisors.

The meeting was informed that interested parties are to soon start due diligence of KESC. Tribal areas are being separated from Pesco and separate licence is being arranged for power distribution in the tribal areas.

This will enable the Financial Advisors to go ahead with the due diligence of Pesco.

The meeting noted with satisfaction that the parties interested in buying Fesco and JPC are on board and carrying on with their due diligence leading to valuation of these entities for bidding during the current financial year.

Copyright Business Recorder, 2004