Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar chaired a meeting of the Cabinet Committee on Privatisation in Islamabad today.

The Committee approved the Restructuring Plan for Batch-I Power Distribution Companies including Faisalabad Electric Supply Company, Gujranwala Electric Power Company and Islamabad Electric Supply Company.

The plan includes carving out of Power Distribution Companies' land assets to the Government-owned Power Holding Company as a holding company.

The Deputy Prime Minister directed expeditious implementation of the plan and said the government's privatisation initiative will help improve the quality of service provided by Power Distribution Companies and reduce losses.

He said the Plan will be implemented through a Scheme of Arrangement to be filed with the Securities and Exchange Commission of Pakistan.

The meeting was attended by Federal Minister for Power Sardar Awais Ahmad Khan Leghari, Adviser to Prime Minister on Privatisation Muhammad Ali, Minister of State for Finance and Railways, Special Assistant to Prime Minister Tariq Bajwa and senior officials.