Pakistan will start privatizing its power distribution companies from next year to stay on course with its pledge to the International Monetary Fund to fix the debt-hit energy sector.
The Privatization Commission Board has approved a plan to complete the legal formalities by January and is in the process of appointing a financial adviser to sell three utilities in the first phase، the commission said in a statement on Saturday without providing details. The proposal will now need to be vetted by the Cabinet Commission on Privatization.
Prime Minister Shehbaz Sharif’s government…
