Tag: CCOP

CCOP Approves Sale of Six Loss-Making Power Firms; Consumers to Bear Rs200 Billion Burden

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Power-Projects

ISLAMABAD: The Cabinet Committee on Privatisation (CCOP) has approved the sale of six of the highest loss-making power distribution companies and four power generation companies, which collectively incur annual losses exceeding Rs200 billion. This decision, aimed at reducing the financial strain on the power sector, indicates that consumers will continue to face high electricity bills to cover these losses. The CCOP, led by Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar, reiterated its commitment to privatizing 24 state-owned enterprises (SOEs) over the next five years. Despite this decision,…

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Cabinet Committee Seeks Legal Opinion on Transfer of OGDCL Shares Held by Privatisation Commission

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ogdcl

The Cabinet Committee on Privatisation (CCoP) has initiated steps to seek legal counsel regarding the proposed transfer of Oil & Gas Development Co. Ltd. (OGDCL) shares currently held by the Privatisation Commission (PC). This move comes as part of a broader strategy to determine the appropriate recipient for these shares, whether the Petroleum Division or the Sovereign Wealth Fund (SWF). The decision to seek legal opinion was made during a recent CCoP meeting chaired by caretaker Minister for Privatisation, Fawad Hasan Fawad. The proposal, initially put forward by the Petroleum…

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