ISLAMABAD: The Privatisation Commission (PC) Board has approved several strategic initiatives aimed at advancing Pakistan’s ongoing privatisation programme. At a meeting chaired by Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, the Board sanctioned a restructuring plan for the Faisalabad Electric Supply Company (FESCO), which will be submitted to the Cabinet Committee on Privatisation for further consideration.

According to Privatisation Commission, this move is part of the Government’s strategy to enhance efficiency and service delivery while attracting private investment. The restructuring of FESCO is part of a broader plan that includes the privatisation of Gujranwala Electric Power Company and Islamabad Electric Supply Company. The Commission has solicited Expressions of Interest from both domestic and international investors, marking a pivotal step in expanding private sector participation in the country’s power distribution sector.

In a related development, the Board approved a consortium led by KPMG to serve as the Financial Adviser for the privatisation of House Building Finance Company Limited. A Negotiation Committee has been formed to finalise the Financial Advisory Services Agreement with the selected consortium, which includes Bridge Factor and other partners.

The Board also reviewed a proposed Transaction Advisory Services Agreement with the Asian Development Bank concerning the outsourcing of operations at Islamabad International Airport. While expressing satisfaction with the progress, the Board sought further clarity on certain elements of the agreement before its next review. This initiative aims to improve operational efficiency and passenger experience by engaging a qualified private sector operator under a long-term concession framework.

Additionally, the Board approved the budget estimates for the Privatisation Commission for the 2026-27 financial year, supporting its strategic objectives and expanding transaction pipeline. The Board reiterated the Government’s commitment to a transparent, competitive, and investor-friendly privatisation programme, emphasizing economic growth, investment attraction, and public service enhancement.

The Privatisation Commission remains dedicated to conducting all transactions within legal and regulatory frameworks, ensuring transparency, accountability, and maximizing value for the people of Pakistan.