The Privatisation Commission Board has approved key steps for the privatisation of power distribution companies (DISCOs), marking progress in the government’s divestment programme.
The board, which met under the chairmanship of Prime Minister’s Adviser on Privatisation Muhammad Ali, endorsed recommendations for the first batch of DISCOs to be presented to the Cabinet Committee on Privatisation.
The initial phase will include the privatisation of Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO).
The board also approved restructuring plans for each of the three companies. Following approval by the cabinet committee, expressions of interest will be invited from potential investors.
Separately, the board approved the appointment of a consortium led by Citibank as financial adviser for the privatisation of the Roosevelt Hotel in New York. A negotiation committee has also been formed to finalize the Financial Advisory Services Agreement with the selected consortium.
Officials said these decisions represent significant progress in advancing the government’s broader privatisation agenda.
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