KARACHI: The Sindh government on Tuesday principally approved the acquisition of Hyderabad Electric Supply Company (Hesco) and Sukkur Electric Power Company (Sepco) from the federal government.
The decision to this effect was taken at the meeting of Sindh cabinet held in Karachi with Sindh Chief Minister Syed Murad Ali Shah in the chair.
In the meeting, Minister Energy Imtiaz Shaikh told the cabinet that the Privatization Commission had earlier decided to privatize all federal government-owned DISCOs to private sector management but now finally it has decided to hand over them to the concerned provincial governments.
Minister Energy told the cabinet that Hesco and Sepco would be the first DISCOs in the country that would be transferred to a provincial government.
Sindh CM directed the energy minister to appoint a consultant firm to study the number of employees, sales growth, target losses, financial cost, and recovery ratio for both the companies, Hesco and Sepco.
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