Pakistan to hold global roadshows for power utility privatisation drive

ISLAMABAD: Pakistan will launch international roadshows this month in China, Saudi Arabia and Türkiye to attract foreign investors for the privatisation of its state-owned power distribution companies (Discos).

The decision was finalised during a review meeting chaired by Prime Minister Shehbaz Sharif in Islamabad, as Pakistan accelerates its economic reform agenda to offload loss-making state-owned enterprises (SOEs).

“The privatisation of loss-making state-owned enterprises remains a top priority for the government,” Sharif told the meeting.

He directed officials to speed up the privatisation process of the power utilities while ensuring absolute transparency at every stage.

The government has earmarked three profitable yet state-burdened power utilities for the initial phase of the privatisation rollout.

According to the official briefing, in the first phase, the Islamabad Electric Supply Company; the Gujranwala Electric Power Company and the Faisalabad Electric Supply Company will be privatised.

Officials briefed the prime minister that Expressions of Interest (EOIs) for these three entities have already been published in domestic and international newspapers.

The meeting was told that the Cabinet Committee on Privatisation has formally approved the transaction structures for the entities.

To protect consumer interests post-privatisation, Sharif ordered that a robust independent regulatory framework be established to oversee the power sector once management is transferred to the private sector.

In a bid to secure competitive bids, Pakistan is pivoting toward key bilateral allies that have previously indicated interest in the country’s energy, infrastructure, and mining sectors, the meeting was told.

The international marketing push will begin later this month, aiming to leverage foreign direct investment to bridge fiscal deficits and ease the financial burden on the national exchequer, which suffers billions of rupees in annual losses due to power sector inefficiencies and power theft.

The meeting was attended Deputy Prime Minister and Foreign Minister Ishaq Dar, Finance Minister Muhammad Aurangzeb, Power Minister Sardar Awais Leghari and the Prime Minister’s Advisor on Privatisation, Muhammad Ali.