ISLAMABAD (Dunya News) – The Privatisation Commission Board on Friday approved the restructuring plan for Faisalabad Electric Supply Company (FESCO) as part of preparations for its upcoming privatisation.
According to the commission, the restructuring plan will be submitted to the Cabinet Committee on Privatisation for final approval. FESCO, along with Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO), has been included in the first phase of distribution company (DISCO) privatisation.
The commission said that expressions of interest will be invited from both local and international investors for the privatisation process of these power distribution companies.
During the meeting, the board also approved the selection of a financial adviser for the House Building Finance Company (HBFC). A consortium led by KPMG was declared the highest-ranked bidder, and a negotiation committee has been formed to finalise the financial advisory agreement.
Members also reviewed a proposed agreement with the Asian Development Bank (ADB) regarding the outsourcing of operations at Islamabad International Airport. The commission said the airport would be operated under a long-term concession model with private sector participation.
Officials stated that private management of the airport is expected to improve operational efficiency and enhance passenger facilities through modern service standards.
The meeting also approved budget estimates for the financial year 2026-27. The Privatisation Commission reiterated its commitment to a transparent, competitive and investor-friendly privatisation programme.
It added that the broader objective of the programme is to attract investment, support economic growth and improve public service delivery while ensuring all processes remain compliant with legal and regulatory frameworks.
The commission further stressed that transparency, accountability and maximisation of national asset value would remain key priorities throughout the privatisation process.