The caretaker government decided to privatise power distribution companies (Discos) through long-term concessions and to implement eight-hour gas load-shedding for domestic consumers in winter.
These decisions were made during the sixth meeting of the Apex Committee of the Special Investment Facilitation Council (SIFC) on October 4, 2023.
Chaired by caretaker Prime Minister Anwaarul Haq Kakar and attended by Chief of Army Staff General Syed Asim Munir, the meeting discussed the need for gas load-shedding due to an 18 percent reduction in gas reserves for the current year.
The government also indicated its intention to restructure the boards of distribution companies.
Regarding the Discos, the committee considered three options: transferring control to the provinces, granting long-term concessions to the private sector, or full privatization. It was decided that the long-term concessions option for the private sector would be pursued.
During a press conference following the meeting, Caretaker Minister for Commerce and Industry, Gohar Ejaz, revealed that Pakistan has secured a free trade agreement (FTA) with the Gulf Cooperation Council (GCC) after 14 years. He also highlighted the significant trade imbalance between GCC imports and exports, underscoring Pakistan’s relatively minor contribution to GCC exports.
“Total yearly imports of the GCC are $1 trillion, with exports at $550 billion per annum. Unfortunately, Pakistan’s share in exports to GCC countries is just $2.5 million, which is only half a percent of total GCC exports,” he said.
