Islamabad: The privatization process for three electricity distribution companies (Discos) officially began on Tuesday following a meeting chaired by the Privatization and Power Ministers. The Privatisation Commission has called for technical and financial proposals to appoint financial advisers for the privatization of Islamabad Electric Supply Company (Iesco), Gujranwala Electric Power Company (Gepco), and Faisalabad Electric Supply Company (Fesco).
The meeting was jointly led by Privatisation Minister Abdul Aleem Khan and Power Minister Sardar Awais Ahmad Khan Leghari. Minister Aleem emphasized that the divestment of the Discos would proceed in phases, with a focus on maintaining transparency and addressing technical concerns.
Minister Leghari instructed that all issues related to the privatization of the power firms be resolved promptly and that relevant data and details be made accessible to potential bidders. He also emphasized the need to expedite the privatization process wherever feasible.
During the briefing, the Secretary of Privatisation and other officials presented a comprehensive schedule for the privatization, which will require final approval from the Cabinet Committee on Privatisation and the federal government. The meeting also covered key topics such as the appointment of financial advisers, market sounding, restructuring, and other significant issues.
