Pakistan has taken another step toward privatizing three major electricity distribution companies after the Privatisation Commission (PC) Board recommended approval of restructuring plans for FESCO, GEPCO, and IESCO.
The recommendation, made during a meeting chaired by Adviser to the Prime Minister on Privatisation Muhammad Ali, will now be sent to the Cabinet Committee on Privatisation (CCoP) for final approval.
The restructuring plans are based on the companies’ audited financial statements as of March 31, 2026, and are aimed at maximizing value for the government while making the transactions more attractive to private investors.
Under the proposed structure, the government will establish a Special Purpose Vehicle (SPV) to separate selected assets and liabilities from the three DISCOs, creating a cleaner structure for privatization.
The Board was also informed that both local and foreign investors have shown strong interest in the first batch of DISCOs. The deadlines for submitting Expressions of Interest (EOIs) are August 7 for FESCO, August 21 for GEPCO, and September 7 for IESCO.
Separately, the Board formed two transaction committees to oversee the outsourcing of Islamabad, Lahore, and Karachi airports. The Asian Development Bank (ADB) has been appointed as the financial adviser for Islamabad International Airport, while advisers for Lahore and Karachi airports are being selected.
The Privatisation Commission said it remains committed to carrying out the government’s privatization programme through a transparent and competitive process aimed at improving efficiency, attracting investment, and maximizing public value.
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