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Business Recorder
23-04-2025
- Business
- Business Recorder
Hesco, Pesco and Fesco: PD tasked with completing sell-off homework by Q2
ISLAMABAD: The Power Division was tasked to complete its homework for the privatisation of three DISCOs (Hesco, Pesco and Fesco) by second quarter of fiscal year 2025-26, a parliamentary panel has been informed on Wednesday. The 8th meeting of the Standing Committee on Privatisation was held under the Chairmanship Muhammad Farooq Sattar here in the Ministry of Privatization. The chairman Privatization Commission informed the committee that for privatisation of Hesco, Pesco and Fesco, terms and conditions for privatisation are under consideration and financial adviser for due diligence will be hired, audit and accounts will be maintained and Power Division has given time till September/October 2025. KE asks Power Div for consultation on NEP He also informed the committee that privatisation process will be started by end of May. The committee expressed serious reservations on appointing board of governors of power companies and recommended that competency must be observed while appointing boards. The committee also directed that CEO's must attend the next meeting in person. The representative of Postal Life Insurance Company Limited (PLICL) informed the committee that the company have about 0.3 million customers and they have demanded rupees eight billion from the Ministry of Finance this year. The committee directed that last 4-5 years figures must be provided and the policy holders must be protected. Ministry of Finance should clarify the status of funds of PLICL. The representative of Utility Stores Corporation (USC) briefed the committee on the implementation status of the recommendations of the previous meeting. He briefed the committee about details of subsidies provided, profit earned and tax paid. He also briefed the committee about the (USC) network and number of employees. He informed the committee that under the restructuring plan of USC, 1203 Utility Stores have been closed and 2,237 employees have been laid off till date. He informed that only 1,500 stores will be functional on commercial basis. The committee inquired that if Utility Stores Corporation is shifted on commercial basis and earns profit then what is the justification to prioritise it. The representative of Ministry of Privatisation replied to the committee that a presentation on it will be given to the committee in the next meeting. He stated that it depends on policy decision by the government and profitable entities may also be privatised. The committee recommended that the decision of USC privatisation must be reviewed in the larger interest of the country and a large number of employees and their families. The committee also considered, 'The Privatization Commission (Amendment) Bill, 2024' (government bill). The representatives of the Ministry of Law briefed the committee on the bill but the committee directed him to present any precedent, the representatives from the Ministry of Law assured the committee that the precedent will be provided in the next meeting of the committee so the committee pended the bill till its next meeting. While discussion on privatisation of Pakistan Engineering Company (PECO) requested the committee to provide more time to resolve the issue. The committee gave the time of three months and directed to resolve the issue within due time and recommended that chairman and MD must be appointed from majority of shareholding instead of government nominees. The committee also considered the report of Sub-Committee appointed under convenorship of Sehar Kamran, MNA on decline of PIACL. Sehar Kamran briefed the committee on the report of the Sub-Committee. The Committee pended discussion on the report till its next meeting. Copyright Business Recorder, 2025
Express Tribune
14-03-2025
- Express Tribune
Night cricket tourneys thrive on pilfered power
The Hyderabad Electric Supply Company (Hesco) has yet to take tangible action against those involved in power theft, particularly in relation to unauthorised night cricket tournaments held on public roads. These tourneys, often powered by stolen electricity, continue to thrive, with no intervention from Hesco authorities. Although Hesco regularly releases press statements boasting of efforts to combat power pilferage, the illegal practice remains rampant. Over 500 locations in the city host night unauthorised cricket matches during Ramazan, with organisers tapping into electricity poles or directly connecting to street-level power meters. In some areas, the use of high-power lighting rods on school and college grounds has further escalated the issue. Despite Hesco's claims of strict enforcement, the problem persists, particularly during the holy month. These night cricket tourneys, which typically begin after Taraweeh prayers around 3 to 3.30am, continue unabated. In some areas, intense inter-area competitions are held, with prizes on offer, all powered by stolen electricity. In an effort to cover up their power theft, some organisers in have resorted to placing small generators at the venues, pretending that electricity is being generated independently. However, the reality remains that these events are powered illegally, which raises serious concerns about the lack of enforcement and oversight. The illegal tournaments are not without consequence for the public. Traffic flow is disrupted as matches are frequently held on busy streets and highways. Motorcyclists and drivers have reported arguments and brawls with players, who ask them to turn off their headlights or avoid passing by the playing fields. Disputes between players over umpire decisions have resulted in occasional clashes between teams and their supporters. On Wednesday, similar illegal cricket tournaments were reported in different neighbourhoods in Hyderabad, including Phulli Preetabad, Station Road, Risala Road, Lajpat Road, G Ward, Latifabad, Qasimabad, Site Area, and others. These tourneys show a broader, systemic issue where electricity theft, particularly during Ramadan, remains unchecked. This annual pattern of electricity theft is further compounded by the illicit use of stolen power to operate temporary markets or stalls set up for Eid celebrations. Hesco officials, despite knowing about these activities, have failed to take meaningful action. Instead, their approach has been to hold sporadic public demonstrations, which are often accompanied by media releases showcasing minimal interventions. The most concerning aspect of this ongoing issue is the aftermath: once the holy month of Ramadan ends, Hesco calculates the total amount of stolen electricity and includes this figure in the bills of regular consumers. As a result, those who have used electricity responsibly are left to shoulder the burden of these losses. Furthermore, the process of disputing these inflated bills has been made exceedingly difficult, leaving many consumers unable to rectify the situation, causing unnecessary stress and financial strain.
