The initiatives taken by the government under the facilitation of Special Investment Facilitation Council (SIFC) in power sector during the past one year have resulted in a substantial improvement in this sector. Due to tireless efforts and hard work of the SIFC, work is in progress on privatization of DISCOs and renewable energy including wind and solar power. Incentives in the renewable energy sector have also paved the way for Foreign Direct Investment in this sector. Saudi Arabia has expressed its keen interest to invest in several solar projects of 600 megawatts each and work is in full swing to finalize government-to-government (G2G) agreement on this project. Similarly, work for privatization of DISCOs has also been initiated, under which five DISCOs will be privatized in two phases while three DISCOs will be given long-term concessions. As per the recommendations of the Apex Committee of the SIFC, the Power Division has been directed to resolve the pending financial matters with Karachi Electric. Instructions have been issued to Karachi Electric for the early completion of the competitive bidding for three hundred megawatt project in Wind Over Solar Energy projects. The Special Investment Facilitation Council is working hand in hand with the government's efforts to improve economy of Pakistan, and these efforts are yielding results. Source: Radio Pakistan