The prime minister called for privatizing three power distribution companies in the first phase

Pakistan on Tuesday moved forward with plans to privatize three power distribution companies in the first phase of its reform programme, as the government continues its efforts to restructure loss-making state-owned enterprises, according to a statement from the Prime Minister’s Office.

Chairing a review meeting in Islamabad on privatization of distribution power companies (DISCO), Prime Minister Shehbaz Sharif was informed that three electricity distributors – Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO) – would be privatized in the first phase.

Expressions of interest in the three DISCOs had already been published in national and international newspapers. The Cabinet Committee on Privatization also approved the transaction structure for the process.

The Prime Minister reiterated that privatization of loss-making public sector entities remains one of the government’s top priorities.

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Among the senior cabinet members who attended the meeting were Deputy Prime Minister and Foreign Minister Ishaq Dar, Law Minister Azam Nazeer Tarar, Finance Minister Muhammad Aurangzeb, Economic Affairs Minister Ahad Khan Cheema, Energy Minister Sardar Awais Leghari and Privatization Advisor Muhammad Ali.

“Loss-making state-owned enterprises are our priority for privatization,” Prime Minister Shehbaz said, according to officials present at the meeting. He directed the relevant authorities to expedite the process and ensure that it is completed with full transparency.

The meeting was informed that roadshows would be launched that month to attract investors, and international sessions for potential investors from Saudi Arabia, Türkiye and China were also planned.

Chief Minister Shehbaz also directed officials to put in place a sound regulatory framework after privatization of DISCOs and emphasized that transparency must be maintained at every stage of the process.