Power Holding Private Limited (PHPL) is a company of power sector which is specifically structured as a Special Purpose Vehicle (SVP) for holding commercial borrowing of power sector to handle the circular debt . As such it cannot be considered as an entity and cannot be shortlisted for privatisation purpose.
Iesco, Lesco, Gepco, Fesco, Hesco, Mepco, Sepco, Qesco, Pesco and Tesco are distribution companies for which re-structuring and re-organisation is required, before considering these for privatisation. Lakhra Coal Development Company Ltd. Karachi and Government Holding Private Limited and Kaco are not part of Power Division.
Power Division has asked Establishment Division to take further necessary action in light of its proposals.
Establishment Division argued that the federal government notified the formation of a task force in September 2018 to come up with the recommendations for restructuring and re-organizing of the federal government entities after surveys, assessment and discussions by the Task Force, a draft working paper with the proposals suggesting future configuration, regrouping and mapping of each Organizational Equity (QE) was circulated and subsequently discussed by the Secretaries Committee.
The suggestions of the Secretaries Committee were incorporated and the revised proposals pertaining to the OEs under the administrative control of each Ministry were sent to the Ministers In charge for their views.
After these consultations, deliberations and incorporation of the views an updated report along with the draft summary was submitted to the federal cabinet for discussion and decision. The Cabinet in its meeting held on July 9, 2019 approved in principle these recommendations. The Cabinet during the meeting also constituted an Implementation Committee to work out an implementation strategy/work plan.