Privatization will only succeed with transparency and consultation with business community: Omais Khattak
Islamabad:Omais Khattak, President Islamabad Industrial Association has welcomed the government’s decision to extend the deadline for submission of Expressions of Interest for the privatization and private sector participation in Islamabad Electric Supply Company – IESCO. He termed it a positive step that will provide more local and international investors the opportunity to participate in the process.
In his statement, President IIA Omais Khattak said that Islamabad’s industrial and trading community has long been demanding uninterrupted power supply, reduced line losses, and improved customer service. He added that the privatization of IESCO will not only enhance service delivery but will also help increase industrial production and create new employment opportunities.
He emphasized that the government must ensure complete transparency in the privatization process. All stages of bidding should be open and merit-based so that serious and experienced investors come forward. The purpose of private sector involvement should not be limited to profit, but should focus on ensuring affordable and quality electricity supply to both the public and industry.
President IIA further stated that the business community must be taken into confidence and the privatization agreement should include special provisions for industrial zones such as special tariffs, exemption from load-shedding, and immediate redressal of complaints. He also stressed the need to fully protect the rights and benefits of existing IESCO employees to avoid any unrest during the process. Moreover, he said that new investors should be given incentives for grid upgradation, metering, and reduction of losses to create a conducive environment for investment.
Omais Khattak reaffirmed that Islamabad Industrial Association is fully ready to cooperate with the government and relevant institutions. He expressed the hope that IESCO’s privatization will become a model for reforms in power distribution companies across the country. In conclusion, he said that the extension in deadline will allow investors to prepare better proposals, and the business community of Islamabad stands with the government to make this process successful.