Privatization of Loss-Making State Entities Is Our Top Priority, Says PM

(Digital Itla) Prime Minister Shehbaz Sharif has directed authorities to accelerate the privatization process of power distribution companies (Discos), with IESCO, GEPCO, and FESCO selected for the first phase. While presiding over a review meeting on the privatization of Discos, the Prime Minister thoroughly assessed the progress made so far.

Addressing the meeting, the PM emphasized that privatizing loss-making state-owned enterprises remains the government's top priority. He directed the concerned officials to speed up the process while ensuring complete transparency. The Prime Minister also stressed the need to formulate a robust regulatory framework post-privatization to protect consumer interests and maintain effective oversight.

During the briefing, it was revealed that Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO) will be privatized in the first phase. Additionally, the Privatization Committee of the Cabinet has already approved the transaction structures for these three Discos. International roadshows are currently being organized in Saudi Arabia, Türkiye, and China to attract global investors. Concurrently, electricity prices across the country have been slashed by PKR 1.99 per unit.