Key Points
- Government assures transparency and regulatory strengthening in ongoing energy sector reforms
- Loss-making state-owned enterprises remain a top priority for divestment
- Prime Minister directs acceleration of privatisation timelines for power distribution companies
ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday chaired a high-level review meeting on the privatisation of electricity distribution companies, directing authorities to accelerate the process and ensure full transparency at every stage of the transactions.
Officials briefed the meeting that privatisation of loss-making state-owned enterprises remains a key economic priority.
Through the privatisation process, the government is seeking to reduce fiscal burden and improve operational efficiency in the power sector with private sector participation.
According to the briefing, the first phase of the programme will cover IESCO, GEPCO and FESCO.
Advertisements inviting Expressions of Interest for the three companies have already been published in leading national and international newspapers.
The Cabinet Committee on Privatisation, the apex body overseeing the entire process, has approved the transaction structure.
The meeting was informed that roadshows aimed at attracting investors will begin this month, with additional outreach planned in Saudi Arabia, Türkiye and China to encourage international participation.
Prime Minister Shehbaz Sharif stressed that all privatisation steps must be completed in a fully transparent manner and directed officials to establish a robust regulatory framework following the transfer of the distribution companies to private management.
The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Law Minister Azam Nazeer Tarar, Economic Affairs Minister Ahad Khan Cheema, Finance Minister Muhammad Aurangzeb, Power Minister Sardar Awais Ahmad Khan Leghari, Adviser to the Prime Minister on Privatisation Muhammad Ali, Minister of State for Finance and Railways Bilal Azhar Kayani, and senior officials concerned.
