PM Shehbaz directs acceleration of DISCOs privatisation

ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed that the privatisation of power distribution companies (DISCOs) be “accelerated”, reiterating that offloading loss-making state-owned enterprises (SOEs) was a priority for the government.

In a handout, the Prime Minister’s Office (PMO) said PM Shehbaz had presided over a high-level review meeting in Islamabad earlier in the day.

“The prime minister instructed officials to ensure complete transparency throughout the privatisation process and establish a robust regulatory framework immediately following the transition of the Discos to the private sector,” the handout said.

During the briefing, the meeting was informed that Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) would be privatised in the first phase. Expressions of interest (EOIs) for the process had already been published in national and international newspapers, it added.

“The meeting was further informed that the Cabinet Committee on Privatisation had approved the transaction structure for the privatisation of the three DISCOs,” the handout said, adding that international roadshows were scheduled to begin this month to attract investors from Saudi Arabia, Turkiye and China.

Deputy Prime Minister and Foreign Minister Ishaq Dar, federal ministers Azam Nazeer Tarar, Ahad Khan Cheema, Muhammad Aurangzeb and Sardar Awais Leghari, Privatisation Adviser Muhammad Ali, Minister of State Bilal Azhar Kayani, and relevant government officials attended the meeting.

Global........

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