ISLAMABAD: The National Transmission and Despatch Company (NTDC) will soon be renamed as National Grid Company Limited (NGC), with new functions and responsibilities.
Sources within NEPRA informed Newzshewz that, following a decision by the Federal Cabinet regarding the restructuring of NTDC, a committee has recommended the creation of a new project development entity, National Grid Company (Projects). This new company will handle project preparation and implementation, including both new projects and maintenance, along with procurement, supply chain, and revenue management functions currently managed by NTDC.
NTDC has submitted an application to NEPRA requesting approval for the change of its name to NGC. The rationale behind this change is that NTDC is licensed as the “National Grid Company” under Section 17 of the Regulation of Generation, Transmission, and Distribution of Electric Power Act, 1997 (the “NEPRA Act”), as outlined in Transmission Licence No. TL/01/2002, issued on December 31, 2002 (as amended). NTDC seeks to align its name with the NEPRA Act and the regulatory framework established therein.
NTDC further explained that the Federal Government has reviewed and approved the name change. On November 6, 2024, the Cabinet approved the change of NTDC’s name to NGC. Subsequently, the Ministry of Energy (Power Division) sent a letter on November 20, 2024, directing NTDC’s Board of Directors to implement the Cabinet’s decision regarding the restructuring process.
NTDC has completed the first step in this process by submitting a name reservation request to the Securities and Exchange Commission of Pakistan (SECP), which has already been approved. The company is now preparing the necessary documentation to file an application for the name change to NGC. As per Regulation 6 of the Companies Regulations, 2024, NTDC must obtain permission from NEPRA, as the regulatory authority, before proceeding with the name change. Regulation 6 stipulates that a company changing its name must file an application with the registrar, accompanied by documents such as a name availability letter, an amended memorandum and articles of association, an affidavit, and, if applicable, an NOC/permission letter from the competent regulatory authority.
NEPRA has been informed that since NTDC is a licenced entity under the NEPRA Act, it is required to seek approval from NEPRA before proceeding with the name change.