Prime Minister Shehbaz Sharif on Tuesday directed authorities to accelerate the privatization of power distribution companies (Discos), emphasizing that the process must be completed transparently and efficiently.
Chairing a review meeting in Islamabad, the premier said the privatization of loss-making government institutions remains one of the government's key priorities as part of broader economic reforms.
PM reviews progress on Discos privatisation
During the meeting, Prime Minister Shehbaz Sharif was briefed on the latest developments regarding the privatization of electricity distribution companies.
The premier instructed officials to ensure that the entire privatization process is conducted in a transparent manner while maintaining public confidence and investor interest.
He also directed relevant authorities to establish a strong regulatory framework following the privatization of Discos to ensure effective oversight and service delivery.
First Phase to Include Three Distribution Companies
Officials informed the meeting that the first phase of the privatization programme will cover three major power distribution companies:
- Islamabad Electric Supply Company (IESCO)
- Gujranwala Electric Power Company (GEPCO)
- Faisalabad Electric Supply Company (FESCO)
According to the briefing, advertisements seeking expressions of interest for the privatization of these three companies have already been published in both national and international newspapers.
Cabinet committee approves transaction structure
The meeting was informed that the Cabinet Committee on Privatization has approved the transaction structure for the privatization of the three distribution companies.
Officials said the approval marks an important step toward moving the process forward and attracting potential investors from local and international markets.The briefing further revealed that investor roadshows are being organized from this month to attract interest in the upcoming transactions.
In addition to domestic engagement efforts, special roadshows are also being arranged in Saudi Arabia to attract investors from Turkey and China, officials told the meeting.
The government expects these outreach activities to help generate wider investor participation in the privatization process.
The review meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Law Minister Azam Nazeer Tarar, Planning Minister Ahad Cheema, and Power Minister Sardar Awais Leghari.
Adviser on Privatization Muhammad Ali, Minister of State Bilal Azhar Kayani, and other senior government officials were also present.
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