The process of corporatising the sate-run Bangladesh Power Development Board (PDB) will finally kick off early next month, official sources said.
The government with support from the Asian Development Bank (ADB) earlier decided to give the PDB a corporate shape.
"A New Zealand-based consulting firm - PA Consultant - will start preparing guidelines for the PDB corporatisation from March 1," a government official informed the FE.
The ADB has already selected the consulting firm after a two-day negotiation with it that took place recently at the Bank's headquarters in Manila.
A two-member delegation from the government, headed by a senior Power Division official, participated in the negotiations as observers.
An official source recently said that the ADB was to give the formal appointment of the consultant shortly.
The Bank will provide necessary technical assistance for the consulting works, according to sources.
The official further said the consultant has to outline the possible operational structure and business plans for the PDB corporatisation move within a year.
"The main tasks of the consultant will be to devise complete financial and business plans along with an organogarm for making the PDB a holding company," said a Power Division official.
He also said a broad-based business plan and operational structure for the new initiative will be high on agenda of its (consultant) proposed outline.
The process to give the PDB a corporate shape has been initiated under the government's ongoing reforms in the power sector, prescribed by multilateral donors.
The World Bank (WB) has also assured the government of providing credit support for the reform programme.
"The main objective of the reform is to establish corporate cultures in state-owned entities in order to make them operationally vibrant and commercially viable," an official said.
According to the plans, all other sate-owned generation, distribution and transmission companies under the power sector are also to be corporatised in phases.
Besides, the PDB would be the owning holding company of other corporate entities under the power sector, officials noted.