ISLAMABAD (APP) – Prime Minister Shehbaz Sharif on Tuesday directed the relevant authorities to accelerate the privatisation process of electricity distribution companies (DISCOs), reiterating that offloading loss-making State-Owned Enterprises (SOEs) was a priority for the government.
Chairing a high-level review meeting here, the prime minister 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 the briefing on the progress regarding the privatisation of DISCOs, it was told that in the first phase, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO) would be privatised as the Expression of Interest (EOI) for the purpose had already been published in national and international newspapers.
It was told that the Cabinet Committee on Privatization had approved the transaction structure regarding the privatisation of the said three DISCOs.
The international roadshows are being organized starting this month to attract investors from Saudi Arabia, Turkiye, and China.
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.