Islamabad: Prime Minister Shehbaz Sharif has directed authorities to expand and accelerate the privatisation of electricity distribution companies (Discos), emphasizing transparency and the need for a strong regulatory framework following the transfer of ownership to private operators.
Chairing a high-level meeting on the privatisation process, the prime minister said that selling loss-making state-owned enterprises remains a key government priority. According to the Prime Minister’s Office, he instructed officials to speed up the process while ensuring that reforms are implemented to regulate the sector after privatisation.
Officials briefed the prime minister on the ongoing privatisation programme, including the first phase, which targets the sale of Islamabad Electric Supply Company (Iesco), Gujranwala Electric Power Company (Gepco), and Faisalabad Electric Power Company (Fesco).
The government has already invited expressions of interest for the three distribution companies, and the Cabinet Privatisation Committee has approved the transaction structure. Roadshows are also planned this month to attract domestic and international investors, including those from Saudi Arabia, Turkiye, and China, according to the briefing.
The meeting was attended by senior cabinet members, including the deputy prime minister, finance minister, power minister, and law minister, along with other officials.
The Privatisation Commission had earlier issued invitations for expressions of interest for the partial or full sale of the three companies. The deadline for submissions is expected in the first quarter of the next fiscal year.
Together, Fesco, Gepco, and Iesco serve more than 14 million consumers across Punjab, the Islamabad region, and parts of Azad Jammu and Kashmir. The proposed transaction would allow investors to acquire between 51 percent and 100 percent ownership along with management control of each utility.