The Privatisation Commission has moved forward with the sale of three major power distribution companies and approved the top-ranked adviser for the Roosevelt Hotel transaction.
The PC Board, in its 250th meeting chaired by Muhammad Ali, approved key recommendations for submission to the Cabinet Committee on Privatisation regarding the first batch of DISCOs, namely Faisalabad Electric Supply Company, Gujranwala Electric Power Company, and Islamabad Electric Supply Company.
The board approved the transaction structure, pre-qualification criteria, and restructuring plans for all three companies, marking a major milestone before Expressions of Interest are invited from prospective investors after cabinet approval.
This is part of Pakistan’s broader power sector reform and privatization push aimed at reducing losses, improving service quality, and attracting credible private sector participation. Earlier phases of the privatization program had also included other DISCOs and major state-owned assets.
In a separate development, the board approved the Citibank-led consortium as the top-ranked bidder for the appointment of a financial adviser for the Roosevelt Hotel privatization in New York and formed a negotiation committee to finalize the advisory services agreement.
The Roosevelt Hotel has been one of Pakistan’s most high-profile overseas state assets under privatization review for several years, with previous discussions ranging from outright sale to joint venture redevelopment models.
The board said the broader reform framework for the post-privatization regime is aimed at ensuring commercial sustainability, regulatory predictability, and service quality in the power distribution sector.
