Prime Minister Shehbaz Sharif on Tuesday directed authorities to accelerate the privatization of electricity distribution companies (Discos), stressing that the process should be expanded while ensuring transparency and strong regulatory oversight.
Chairing a meeting on the ongoing privatization program, the prime minister said the sale of loss-making state-owned enterprises remained a key government priority. He also instructed officials to put in place an effective regulatory framework to oversee operations after the transfer of ownership to private investors.
During the meeting, officials briefed the prime minister on progress made under the government’s privatization plan. The first phase includes the privatisation of the Islamabad Electric Supply Company (Iesco), Gujranwala Electric Power Company (Gepco), and Faisalabad Electric Supply Company (Fesco).
According to the briefing, the government has already invited expressions of interest from investors for the three distribution companies, while the Cabinet Committee on Privatisation has approved the transaction structure for the process.
Officials informed the meeting that investor roadshows will be held later this month to attract local and foreign investors, including potential participants from Saudi Arabia, Turkiye, and China. The meeting was attended by Deputy Prime Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Power Minister Awais Leghari, Law Minister Azam Nazeer Tarar, and other senior government officials.
The Privatisation Commission had invited expressions of interest on May 19 for the sale of the three power distribution companies, which are considered among the most commercially viable entities in the sector. The deadline for submissions is expected during the first quarter of the next fiscal year.
Fesco, Gepco, and Iesco collectively serve more than 14 million consumers across major industrial, commercial, and urban centres in Punjab, the Islamabad region, and parts of Azad Jammu and Kashmir. Under the proposed transaction structure, investors will have the opportunity to acquire between 51 percent and 100 percent ownership, along with management control, in each of the three companies.