ISLAMABAD: Pakistan’s Prime Minister Shehbaz Sharif ordered to speed up the privatization of state-owned power distribution companies, declaring it a priority to address losses in the sector, the Prime Minister’s Office reported Tuesday.
In a post on X, the PMO stated that PM Sharif chaired a review meeting on the privatization of power distribution companies (DISCOs). He directed officials to complete the entire process transparently while establishing a strong regulatory framework afterward.
In the first phase, Islamabad Electric Supply Company, Gujranwala Electric Power Company and Faisalabad Electric Supply Company will be privatized, according to briefing information provided at the meeting.
The Cabinet's Privatization Committee has approved the transaction structure for these three companies, as per the meeting briefing.
Expressions of interest for the three DISCOs have been published in national and international newspapers, according to the briefing.
Investor outreach is underway. Roadshows will begin this month to attract bidders, the meeting was informed. International road shows targeting investors from Saudi Arabia, Türkiye and China are also in the works.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Finance and Revenue Muhammad Aurangzeb, along with senior government officials.
