The World Bank has linked a planned $1.5 billion investment in Pakistan's power sector to financial autonomy of distribution companies and the reconstitution of their boards.
This will be discussed here Monday at a meeting between Prime Minister Shaukat Aziz and John Wall, the World Bank's country director in Pakistan.
Two issues will be raised at the meeting: reconstituting the boards of the distribution companies to remove Pakistani Army officers serving on them and to notify a new tariff structure.
"During his recent visit to Pakistan, a World Bank (WB) vice president expressed a desire to invest $1.5 billion in various power projects," Daily Times reported Sunday.
"Now the bank, through a communication, has linked the investment to the notification of the tariff of the power distribution companies, which the National Electric Power Regulatory Authority (NEPRA) determined in November 2004 and re-determined in January 2005, but the government has not yet notified. Nor has the Water and Power Development Authority (WAPDA) given financial autonomy to (the boards of the distribution companies)," the newspaper added.
At his meeting with Aziz, Wall will urge that experts from the private sector be also inducted in the distribution companies' boards. These currently comprise WAPDA members and the CEOs of the distribution companies, who are mostly from the Pakistan Army.
Wall is also likely to take up the issue of separating the Pakistan Electric Power Company (PEPCO) - which is responsible for corporatising the power sector - from WAPDA. The WB wants the PEPCO chief to be from the private sector and his office shifted from Lahore to Islamabad to free it from WAPDA's control. A Dec 30, 2004, deadline had been set for this.
--Indo-Asian News Service
Indo-Australia committed to resolve agri-trade issues
Publish Date : 3/3/2007 7:21:00 AM
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Publish Date : 3/3/2007 7:11:00 AM
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Publish Date : 3/3/2007 7:03:00 AM
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Publish Date : 3/2/2007 7:06:00 AM
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Publish Date : 3/2/2007 7:03:00 AM
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Hyundai domestic sales up 74 pc in Feb
Publish Date : 3/2/2007 7:01:00 AM
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Hutchison Telecom files caveat fearing legal move by Essar
Publish Date : 3/2/2007 6:59:00 AM
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Skoda slashes car prices up to Rs 24,000
Publish Date : 3/2/2007 6:56:00 AM
As car makers Maruti and Hyundai announced a hike in prices, luxury car maker Skoda Auto today slashed prices across all models by up to Rs 24,000 citing reduction in customs duty on imported car parts in the Budget.
Bond prices continue to decline
Publish Date : 3/1/2007 8:30:00 AM
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India should be more conscious of global developments: RBI
Publish Date : 3/1/2007 8:19:00 AM
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