Four Gencos to get handed over to private management – Alfalah Securities Limited

Karachi: The government has established a holding company comprising of directors from the private sector to hand over four Generation companies (Gencos) to a private management in order to bring an improvement in the power sector.

According to Alfalah Securities, the Board of Directors from the private sector would be given complete authority in the financial and administrative matters which would help in gaining confidence of the people and would also be responsible to appoint the Chief Executive Officer (CEO) of Gencos. Moreover, the government has also decided to disband Pakistan Electric Power Company (Pepco) by the end of October which would be replaced by the Central Power Purchasing Agency (CPPA) and would comprise of members from the private sector.