Pakistan to complete privatization of three Discos in current year

ISLAMABAD: Pakistan will ensure the target of privatization of three power distribution companies in current year to get the loan tranche from the International Monetary Fund (IMF), government sources said on Wednesday.

Pakistan has targeted bidding of three Discos for privatization in middle of April this year, according to sources.

The privatization of Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) has been on the priority list, sources said.

The Financial Advisers are working on emergency basis for the privatization of the distribution companies, sources said.

The Financial Advisers of all three distribution companies will complete preparations of their transaction plans in the first week of April. “The privatization plans will be submitted to the privatization board and the privatization committee of the cabinet in the first week of April,” sources said.

The government has set the target of completing privatization of the Faisalabad Electric Supply Company (FESCO) by October 2026. The privatization of Gujranwala Electric Power Company (GEPCO) is set to be completed in November 2026 and the Islamabad Electric Supply Company (IESCO) in December this year, according to sources.