Following last week's peace pact with electricity workers, government has commenced the progress of winding down the operations of the Power Holding Company of Nigeria (PHCN).

The federal government hinted at the weekend, that a committee to fast track the process would be inaugurated this week. The committee is expected to work with another committee set up a year ago for same process.

Labour issues were identified as largely responsible for the inability of government to effect the process when the first committee was commissioned last year.

Following the activation of the management contract with Canadian firm, Manitoba, the federal government is to pay the firm it's fees tomorrow.

The Minister of State for Power, Hajiya Zainab Kuchi, said the money would be made available to Manitoba to enable it commence full operations in Nigeria.

The Electric Power Sector Reform Act of 2005 made provisions for the wiring down of PHCN and the transfer of its assets and workers to 18 successor companies.

Speaking at a briefing to mark the end of the fifth Power Summit in Lagos, Hajiya Zainab Kuchi said that the winding down of PHCN was a consensus by all stakeholders.

She said the new committee would hasten the process and ensure that it is competed as soon as possible.