PM Shehbaz directs adoption of 'comprehensive strategy' to attract investors for Discos' privatisation

Prime Minister Shehbaz Sharif is pushing for the privatization of state-owned power distribution companies (Discos) by directing authorities to adopt a "comprehensive strategy" to attract international investors. The goal is to complete the restructuring of the Privatisation Commission within one month, ensuring that consumer interests are prioritized throughout the process.

“

A comprehensive and effective strategy should be adopted to ensure the participation of investors meeting international standards in the privatisation of Discos.

Sharif presided over a review meeting in Islamabad, where officials reported on "successful roadshows" held both domestically and internationally. These roadshows, aimed at attracting investors for Gujranwala Electric Power Company (Gepco), Faisalabad Electric Supply Company (Fesco), and Islamabad Electric Supply Company (Iesco) in the first phase, have reportedly generated significant interest. Investor outreach activities in Turkey, Saudi Arabia, and China have also yielded encouraging results.

The meeting also covered progress on the first phase of Discos' privatization and efforts to bolster the Privatisation Commission. The Prime Minister emphasized strengthening the commission's workforce by recruiting experts in finance, law, and IT who meet international standards. He also stressed the importance of incorporating recommendations from professional consultants and completing necessary legal and financial regulatory frameworks in a timely manner.

“

consumers’ interests should also be prioritised in the privatisation process

"Consumers' interests must remain a priority during privatisation and a comprehensive and effective grievance redress mechanism be formed for the consumers of entities being privatised," Sharif stated. The Prime Minister expressed satisfaction with the progress, noting that all stages of privatization should adhere to stipulated timeframes, established rules, and international best practices for profitable outcomes.

“

consumers’ interests must remain a priority during privatisation and a comprehensive and effective grievance redress mechanism be formed for the consumers of entities being privatised