ISLAMABAD: Prime Minister Muhammad Shehbaz Sharif has directed the acceleration of the privatization process for power distribution companies, known as DISCOs. This directive was issued during a review meeting held in Islamabad, where the Prime Minister emphasized the government’s priority of privatizing loss-making state-owned enterprises.

According to Radio Pakistan, Prime Minister Sharif also insisted that the privatization process be conducted transparently. He highlighted the necessity of establishing a robust regulatory framework post-privatization of the DISCOs. The meeting included a briefing on the current progress of the privatization efforts, with a focus on the initial phase involving the Islamabad Electric Supply Company, Gujranwala Electric Power Company, and Faisalabad Electric Supply Company. Expressions of interest for these companies have been advertised in both national and international publications.

Further updates from the meeting indicated that the Cabinet’s Privatization Committee has approved the transaction structure for these initial three DISCOs. To attract potential investors, roadshows are planned to commence this month, targeting international stakeholders from countries including Saudi Arabia, Turkiye, and China. The meeting was attended by several high-ranking officials, including Deputy Prime Minister Ishaq Dar and various ministers responsible for law, economic affairs, finance, and power.