IESCO backs transfer of assets, liabilities to PHL ahead of sell-off

IESCO backs transfer of assets, liabilities to PHL ahead of sell-off

ISLAMABAD: Islamabad Electric Supply Company (IESCO) has given its no-objection to the government’s plan to transfer selected assets, liabilities and pension obligations to Power Holding Limited (PHL) as part of a restructuring exercise aimed at facilitating privatisation of the distribution company. In a letter to one of its creditors titled “Reconstruction of Islamabad Electric Supply Company Limited”, IESCO, which is among the first batch of …