ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed relevant authorities to accelerate the privatisation process of electricity distribution companies (DISCOs), reiterating that the divestment of loss-making State-Owned Enterprises (SOEs) remains a key government priority.
Chairing a high-level review meeting in Islamabad, Prime Minister Sharif instructed officials to ensure complete transparency throughout the privatisation process and establish a robust regulatory framework immediately following the transition of the DISCOs to the private sector.
During a briefing on the progress of the privatisation programme, officials informed the meeting that the first phase would involve the privatisation of the Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO).
The meeting was told that Expressions of Interest (EOIs) for the three power distribution companies have already been published in national and international newspapers.
Officials further informed the prime minister that the Cabinet Committee on Privatisation has approved the transaction structure for the sale of the three DISCOs.
To attract foreign investment, international roadshows will be launched this month in Saudi Arabia, Turkiye and China, aimed at engaging potential investors and showcasing opportunities in Pakistan’s power sector.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers Azam Nazeer Tarar, Ahad Khan Cheema, Muhammad Aurangzeb, and Sardar Awais Leghari, Adviser to the Prime Minister Muhammad Ali, Minister of State Bilal Azhar Kayani, and relevant senior government officials.
Pakistan is pursuing a broader State-Owned Enterprise reform and privatisation agenda aimed at reducing fiscal burdens, improving efficiency and attracting foreign direct investment. The programme covers key sectors, including aviation, energy and finance.
As part of the campaign, Pakistan recently sold a 75 percent stake in Pakistan International Airlines (PIA) for Rs135 billion (approximately $482 million) to a consortium led by the Arif Habib Group. The remaining 25 percent stake is expected to be offered for full acquisition at a later stage, while efforts continue to restructure the airline’s operations and expand its fleet.
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