Prime Minister Shehbaz Sharif on Tuesday directed the relevant authorities to accelerate the privatisation process of electricity distribution companies (DISCOs), reiterating that offloading loss-making State-Owned Enterprises (SOEs) was a priority for the government, according to a statement issued by the Prime Minister’s Office. 

Chairing a review meeting in Islamabad on the privatisation of power distribution companies (DISCOs), the prime minister reiterated that the privatisation of loss-making public-sector entities remains a top government priority.

Senior cabinet members attending the meeting included Deputy Prime Minister and Foreign Minister Ishaq Dar, Law Minister Azam Nazeer Tarar, Finance Minister Muhammad Aurangzeb, Economic Affairs Minister Ahad Khan Cheema, Power Minister Sardar Awais Leghari and Adviser on Privatisation Muhammad Ali.

PM Shehbaz was informed that three electricity distributors, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO), would be privatised in the first phase.

Expressions of interest for the three DISCOs had already been published in both national and international newspapers. The Cabinet Committee on Privatisation has also approved the transaction structure for the process.

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“Loss-making state-owned enterprises are our priority for privatisation,” PM Shehbaz said, according to officials present at the meeting. He directed relevant authorities to expedite the process and ensure it is completed with full transparency.

The meeting was informed that roadshows would be launched that month to attract investors, with international sessions also planned for potential investors from Saudi Arabia, Türkiye, and China.

PM Shehbaz also instructed officials to establish a robust regulatory framework following the privatisation of the DISCOs and stressed that transparency must be maintained at every stage of the process.

With additional input from APP