Pakistan PM orders accelerated, transparent privatization of power distribution companies
Prime Minister Shehbaz Sharif on Tuesday (June 9)ordered accelerating the privatization of power distribution companies (DISCOs), saying loss-making state-owned enterprises are a top government priority.
At a review meeting, Sharif directed that the entire privatization process be completed with full transparency and that a strong regulatory framework be put in place after the sale of DISCOs.
Officials briefed the meeting that in the first phase, three companies – Islamabad Electric Supply Company, Gujranwala Electric Power Company, and Faisalabad Electric Supply Company – will be privatized.
Expressions of interest for the three DISCOs have already been published in domestic and international newspapers, the briefing said. The Cabinet Committee on Privatization has approved the transaction structure, and roadshows to attract investors will begin this month, including internationally for investors from Saudi Arabia, Turkey, and China.