Islamabad: The Privatisation Commission (PC) Board has moved forward with significant measures concerning the privatisation of key state-owned enterprises, including Islamabad Electric Supply Company Limited (IESCO), Faisalabad Electric Supply Company Limited (FESCO), Zarai Taraqiati Bank Limited (ZTBL), and State Life Insurance Corporation of Pakistan (SLIC).

According to Press Information Department, during its 260th meeting, chaired by Mr. Muhammad Ali, the board approved the prequalification of 10 interested parties for IESCO’s privatisation. These parties comprise a mix of Turkish energy firms and major Pakistani business groups, highlighting strong investor interest in Pakistan’s electricity sector.

The prequalified entities will now enter the next phase of the process, which includes access to a Virtual Data Room for due diligence. IESCO is part of the initial group of power distribution companies slated for privatisation, along with FESCO and Gujranwala Electric Power Company Limited (GEPCO).

Additionally, the board sanctioned the inclusion of consortium members to an already prequalified party for FESCO, facilitating broader participation in the Batch-I DISCO transactions. Modifications to the ZTBL’s transaction structure were also approved, aligning with directives to maintain the bank’s agricultural financing focus post-privatisation.

In another decision, a Deutsche Bank-led consortium was selected as the top-ranked financial adviser for SLIC’s privatisation, with a Negotiation Committee set up to finalize the advisory services agreement. The board emphasized its commitment to the government’s privatisation agenda, aiming to attract investment and enhance operational efficiencies.