The World Bank has signed loans of $230 million for a project to privatise and restructure the Water & Power Development Authority (WAPDA). The government is expected to choose advisers for the programme within the next three months.
The project has six parts:
the reorganisation of WAPDA into a holding company with a number of subsidiaries
the establishment of a national electric power regulatory authority
working out a pricing policy for electricity
undertaking a programme to reorganise WAPDA’s labour force
arranging for the initial sale of shares in the new company
implementing a part of WAPDA’s regular investment programme.
Co-financing is also expected to be provided by the Asian Development Bank and other institutions.