Islamabad:
The federal government has begun preparations to privatize electricity distribution companies, including Lahore Electric Supply Company (Lesco) and the Fine Electric Power Company (MEPCO).
According to official documents available with Express News, the Privatization Commission has requested detailed information from the power division as part of the process. After which, MEPCO’s management has begun to rationalize its balance sheet balances and records.
The Privatization Commission has asked the Energy Division to provide the latest financial audit reports for MEPCO. Company’s officials said the audit is about to finish.
In addition, the Commission has requested details of the immovable properties of the energy distribution companies that appear in “lot dos”, including its legal status, registration of income and property details.
Power’s division has also been aimed at providing a complete asset inventory, its assessment and information on the company’s actions and property title transfers, which are already underway.
The Commission has requested comprehensive data on employees and pensioners, including the number of regular, contractual and daily salary personnel, their rules and government regulations, as well as the total number of retirees and their pending doubts.
In addition, the commission wants liabilities in each distribution company and the amount of accounts receivable from consumers and other interested parties.
Official documents also mentioned that Power’s division has already initiated the process for the transfer of the titles of actions and properties of distribution companies.
