ISLAMABAD: The privatization process for three major electricity distribution companies (Discos) officially commenced on Tuesday following a pivotal meeting co-chaired by Privatization Minister Abdul Aleem Khan and Power Minister Sardar Awais Ahmad Khan Leghari.
The Privatisation Commission has called for technical and financial proposals to appoint financial advisers for the privatization of Islamabad Electric Supply Company (Iesco), Gujranwala Electric Power Company (Gepco), and Faisalabad Electric Supply Company (Fesco).
Minister Aleem emphasized that the divestment of these Discos will occur in phased stages, ensuring transparency and adherence to technical standards throughout the process. Minister Leghari urged swift action on all necessary steps for privatization, including providing interested parties with access to relevant data and details of the companies.
The meeting was informed that the complete schedule for the privatization process has been prepared and will be submitted for final approval by the Cabinet Committee on Privatisation and the federal government. Discussions also covered the appointment of financial advisers, market assessment, and restructuring levels.
Minister Aleem stressed the importance of completing the privatization process as quickly as possible.
Story by Amin Ahmed
