PM for transforming pubic sector enterprises into economically viable entities

ISLAMABAD: Prime Minister Syed Yusuf Raza Gilani on Tuesday said that the Public Sector Enterprises have to be transformed into economically viable entities in order to reduce the burden on national exchequer.The Prime Minister directed the Ministry of Water and Power to finalize constitution of Boards of Directors of the Electricity Generating Companies within a week.The Prime Minister was chairing a high level meeting here at the Prime Minister’s House to review the power situation in the country.The Prime Minister further directed the Ministry of Water and Power as well as the Ministry of Finance to urgently hold meetings with the provincial governments and KESC to resolve relevant issues and ensure early recovery of pending bills.

He also instructed that efforts should be made to minimize the chances of load shedding so that the people do not face difficulties. Earlier the Minister for Water and Power Raja Parvez Ashraf and Secretary Water and Power Javed Iqbal briefed the Prime Minister on the power situation and the problems arising out of circular debts.It was mentioned that besides tariff differentials (due to difference in cost and rates of electricity) the provincial governments have yet to clear their pending bills.They also apprised the participants that from 25th December, 2010 till 31st January, 2011 the hydro power plants will have to be closed because of de-silting of canals throughout the country.This reduction in power generation would be supplemented by increasing electricity production through thermal plants running on oil which is costlier option.The Minister for Finance Dr. Abdul Hafeez Sheikh, Minister of State for Finance Mrs. Hina Rabbani Khar, Secretary Finance and senior officials of the Ministry of Water and Power were also present on the occasion – App