Government moves ahead with privatisation of IESCO, GEPCO and FESCO to reduce losses from state-owned enterprises.
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed relevant authorities to expedite the privatisation process of electricity distribution companies (DISCOs), reaffirming the government’s commitment to offloading loss-making State-Owned Enterprises (SOEs).
Chairing a high-level review meeting on the progress of the privatisation programme, the prime minister emphasised that transparency must remain a cornerstone of the process. He instructed officials to ensure complete openness in all stages of the transactions and to establish a strong regulatory framework immediately after the transfer of DISCOs to the private sector.
The meeting was informed that the first phase of the privatisation programme would include the sale of three electricity distribution companies: Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO).
Officials briefed the prime minister that Expressions of Interest (EOIs) for the privatisation of these companies had already been published in national and international newspapers to attract potential investors.
The meeting was further informed that the Cabinet Committee on Privatisation had approved the transaction structure for the sale of the three power distribution companies, paving the way for the next stage of the process.
As part of efforts to generate investor interest, international roadshows are scheduled to begin this month in Saudi Arabia, Turkey and China. The government hopes these engagements will attract strategic investors to participate in the privatisation programme.
Prime Minister Shehbaz Sharif reiterated that restructuring and privatising loss-making SOEs remain among the government’s top economic priorities. The initiative is aimed at reducing the financial burden on the national exchequer, improving operational efficiency and enhancing service delivery within the power sector.
The review meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Federal Minister for Law and Justice Azam Nazeer Tarar, Federal Minister for Planning Ahad Khan Cheema, Finance Minister Muhammad Aurangzeb, Power Minister Sardar Awais Leghari, Adviser to the Prime Minister Muhammad Ali, Minister of State Bilal Azhar Kayani, and other senior government officials.
The acceleration of the DISCOs privatisation programme forms part of broader economic reforms aimed at improving governance, attracting investment and strengthening Pakistan’s energy sector.
