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Business Recorder
27-05-2025
- Business
- Business Recorder
Discos' sell-off/provincialisation: PMO directs Power Div. to expedite consultations
ISLAMABAD: The Prime Minister Office (PMO) has directed the Power Division to expedite the consultative process on Discos privatisation/ provincialisation and develop proposals through Task Force on Power Sector Reforms, well informed sources told Business Recorder. The finalized proposals shall be submitted to the Steering Committee on Privatisation of Discos. The Cabinet approved the outright privatisation of three DISCOs—Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO)—in its meeting held on August 13, 2024, marking the first phase of the privatisation initiative. ECC grills PD: Discos' T&D losses total Rs143bn till March The second phase will include Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), and Hazara Electric Supply Company (HAZECO). Meanwhile, Hyderabad Electric Supply Company (HESCO), Sukkur Electric Power Company (SEPCO), and Peshawar Electric Supply Company (PESCO) will be offered under a Concession Model through long-term agreements. Tribal Electric Supply Company (TESCO) and Quetta Electric Supply Company (QESCO) will be retained by the government. The Power Division, with support from the World Bank under Non-Lending Technical Assistance (NLTA), has completed a consolidated report detailing key deliverables, which has been submitted to the Privatisation Commission. The Power Division has met the Conditions Precedent (CPs) set by the Cabinet Committee on Privatisation (CCoP) and the Government of Pakistan, along with additional requirements identified by the World Bank as of January 31, 2025. The Financial Advisor for Phase-I DISCOs was appointed by the Privatisation Commission, with the Financial Advisory Services Agreement signed on February 11, 2025. The process is structured into four phases: (i) phase I: Sector-level due diligence, inception report, market sounding, and global experience review – completed by March 18, 2025; Phase II: Company-level due diligence (legal, technical, financial, environmental, and HR) – reports submitted May 8, 2025, currently under review; Phase III: Transaction preparation, including restructuring plans and preliminary financial modeling – due June 20, 2025; and Phase IV: Transaction implementation, including investor roadshows, information memoranda, bidder pre-qualification, bidding documents, contract awards, and financial closure – targeted for completion by January 15, 2026. On January 1, 2025, Prime Minister had directed Power Division to thoroughly examine the Provincialisation of DISCOs (ie transferring the ownership and control of Discos from the federal government to the provincial governments) in consultation with provinces and prepare a roadmap with the timelines for the review/approval of the Prime Minister. The Prime Minister Office had further directed that Power Division work simultaneously on the privatisation of Discos identified for privatisation in the first phase i.e. IESCO, FESCO and GEPCO. Power Division shall follow the agreed schedule and complete all the prior actions (conditions precedents) before January 31, 2205. The Committee! constituted by the Prime Minister on Tariff Reduction chaired by the Deputy Prime Minister/Foreign Minister Senator Ishaq Dar has been tasked to thoroughly review the proposal prepared by the Power Division while taking Provincial Governments on board. The firm up proposal shall be submitted for approval of the Prime Minister. Copyright Business Recorder, 2025
Business Recorder
26-05-2025
- Business
- Business Recorder
Discos' sell-off/provincialisation: PMO directs PD to expedite consultations
ISLAMABAD: The Prime Minister Office (PMO) has directed the Power Division to expedite the consultative process on Discos privatisation/ provincialisation and develop proposals through Task Force on Power Sector Reforms, well informed sources told Business Recorder. The finalized proposals shall be submitted to the Steering Committee on Privatisation of Discos. The Cabinet approved the outright privatisation of three DISCOs—Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO)—in its meeting held on August 13, 2024, marking the first phase of the privatisation initiative. ECC grills PD: Discos' T&D losses total Rs143bn till March The second phase will include Lahore Electric Supply Company (LESCO), Multan Electric Power Company (MEPCO), and Hazara Electric Supply Company (HAZECO). Meanwhile, Hyderabad Electric Supply Company (HESCO), Sukkur Electric Power Company (SEPCO), and Peshawar Electric Supply Company (PESCO) will be offered under a Concession Model through long-term agreements. Tribal Electric Supply Company (TESCO) and Quetta Electric Supply Company (QESCO) will be retained by the government. The Power Division, with support from the World Bank under Non-Lending Technical Assistance (NLTA), has completed a consolidated report detailing key deliverables, which has been submitted to the Privatisation Commission. The Power Division has met the Conditions Precedent (CPs) set by the Cabinet Committee on Privatisation (CCoP) and the Government of Pakistan, along with additional requirements identified by the World Bank as of January 31, 2025. The Financial Advisor for Phase-I DISCOs was appointed by the Privatisation Commission, with the Financial Advisory Services Agreement signed on February 11, 2025. The process is structured into four phases: (i) phase I: Sector-level due diligence, inception report, market sounding, and global experience review – completed by March 18, 2025; Phase II: Company-level due diligence (legal, technical, financial, environmental, and HR) – reports submitted May 8, 2025, currently under review; Phase III: Transaction preparation, including restructuring plans and preliminary financial modeling – due June 20, 2025; and Phase IV: Transaction implementation, including investor roadshows, information memoranda, bidder pre-qualification, bidding documents, contract awards, and financial closure – targeted for completion by January 15, 2026. On January 1, 2025, Prime Minister had directed Power Division to thoroughly examine the Provincialisation of DISCOs (ie transferring the ownership and control of Discos from the federal government to the provincial governments) in consultation with provinces and prepare a roadmap with the timelines for the review/approval of the Prime Minister. The Prime Minister Office had further directed that Power Division work simultaneously on the privatisation of Discos identified for privatisation in the first phase i.e. IESCO, FESCO and GEPCO. Power Division shall follow the agreed schedule and complete all the prior actions (conditions precedents) before January 31, 2205. The Committee! constituted by the Prime Minister on Tariff Reduction chaired by the Deputy Prime Minister/Foreign Minister Senator Ishaq Dar has been tasked to thoroughly review the proposal prepared by the Power Division while taking Provincial Governments on board. The firm up proposal shall be submitted for approval of the Prime Minister. Copyright Business Recorder, 2025
CBC
12-02-2025
- Politics
- CBC
Required hours for certain courses could soon be cut in some N.L. schools
The Newfoundland and Labrador government is looking at making big changes to the public school curriculum, which could mean students in grades seven to nine have the option of taking fewer hours of instruction in music, social studies and French. The Department of Education is looking to "modernize" the curriculum, which could make some courses fully or partially optional. It's part of a broader curriculum overhaul that is meant to improve outcomes in subjects like math and English and improve student engagement. But Education Minister Krista Lynn Howell says students are still required to fulfil a minimum amount of hours in mandatory courses, such as social studies and religious education, to meet graduation requirements, but now they will have "a little bit more wiggle room." "This was one thing that we figure would be a way to bring back some of that engagement and motivate students to continue to be in school," Howell said on Tuesday. She said the new curriculum will still include essential lessons students would usually learn in a full course. Some social studies modules such as the Legacy of Confederation and Navigating Canadian Civics would still be mandatory, but modules like Echoes of War — Canada in WWI and WWII, would be optional. Home economics, music and visual arts are among the courses that would become fully optional under the new curriculum. The education minister also clarified that the possible cuts in instruction hours in certain courses doesn't mean the department needs less teachers. "When we look at what the outcome should be, we want students who are well versed across all areas and have an opportunity to experience all different types of learning and different subject areas," said Howell. "We want them to be able to pick things that are meaningful to them." The province will start rolling out the changes in 14 schools in the 2025-26 school year. Newfoundland and Labrador Teachers' Association (NLTA) president Trent Langdon said the proposed changes are well meaning, but they won't be a "silver bullet" to fix problems in the school system. "Government's approach is ultimately — from what I've read and I've heard — that they want to increase student success. They want to increase engagement and motivation," Langdon told CBC Radio's The St. John's Morning Show. However, if classes like social studies become optional, Langdon says there's a fear that students will lose a "fulsome" educational experience. "There's so many valuable opportunities for learning outside of what is your typical math and reading-type approaches that gives the full experience, let alone the discussion around the arts and music and what that brings from a cultural perspective," he said. Those subjects help with brain development and help foster a greater understanding of what's happening in the world, he said. "The more that we're aware of what's happening around the world, let alone south of the border right now, is essential to our learning," said Langdon. Langdon says he approves of a curriculum "renewal," but teachers are dealing with other variables in the classroom, like students with mental health challenges, addictions or engrained absenteeism. "Anytime you allow a young person the opportunity to, I guess, opt out or to take a certain path at a young age, are you ultimately limiting opportunities down the road? And that's the big question here," he said. The education department is looking for feedback and a survey is open until Feb. 28 and a full list of proposed changes is available online. French in the crosshairs Some worry there will be further fallout if the new education plan goes ahead. Maria Mayr is the head of Memorial University's department of modern languages, literatures and cultures. She says she was dismayed when she heard some French modules be become optional going forward. Core French 7A and 7B will still be mandatory, but other learning modules will be optional. WATCH | The CBC's Jenna Head reports on the possible changes: N.L. is proposing major changes to the junior high curriculum 2 hours ago Duration 2:26 Courses like French, Music and Social Studies might soon become optional for junior high students in Newfoundland and Labrador. The CBC's Jenna Head reports. She's also worried that smaller schools in rural Newfoundland and Labrador could be harder hit by the change if it's brought in, since there are limited resources and teachers who could offer optional modules. "What if only 10 students choose to do French? Will the school be able to actually choose to offer it?" said Mayr. While the changes are meant to boost English and math skills, she said improving education should be done in a comprehensive manner.
