PM orders faster privatisation of DISCOs

ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday directed authorities to adopt a comprehensive strategy to attract world-class investors for the privatisation of state-owned power distribution companies (DISCOs), while ordering the restructuring of the Privatisation Commission to be completed within one month.

Chairing a meeting to review the privatisation of electricity distribution companies (DISCOs) and institutional reforms at the Privatisation Commission, Sharif instructed officials to ensure the sale process is completed within the stipulated timeframe and in line with international best practices, according to a statement from the Prime Minister’s Office.

The prime minister said that the commission should recruit experts in finance, law and information technology to strengthen its institutional capacity and improve investor confidence.

He also directed officials to ensure the timely completion of the legal and regulatory framework required to facilitate privatisation.

Sharif said that investors’ participation in domestic and international roadshows organised to promote the privatisation programme was encouraging and called for recommendations from experienced professional consultants to be incorporated throughout the process.

He stressed that consumer interests should remain a priority during privatisation and instructed authorities to establish an effective mechanism to address customer complaints in the companies after they are sold.

Officials told the meeting that roadshows aimed at attracting investors for the first phase of DISCO privatisation, covering the Gujranwala Electric Power Company (GEPCO), Faisalabad Electric Supply Company (FESCO) and Islamabad Electric Supply Company (IESCO), had been completed.

They said that investor outreach in Turkiye, Saudi Arabia and China had produced encouraging results.

The meeting was attended by Energy Minister Awais Ahmed Khan Leghari, Economic Affairs Minister Ahad Khan Cheema, Information Technology Minister Shaza Fatima Khawaja, Adviser to the Prime Minister on Privatisation Muhammad Ali and senior government officials.