Islamabad (Web Desk): Prime Minister Shehbaz Sharif on Wednesday directed the authorities concerned to put in place a robust and well-planned strategy aimed at ensuring the participation of leading international investors for the privatisation of power distribution companies (DISCOs), underscoring the need to make the process competitive, transparent and globally appealing.
While chairing a meeting to review the privatisation of DISCOs and the restructuring of the Privatisation Commission, the prime minister directed officials to complete the Commission’s ongoing institutional reforms within the next month.
PM Shehbaz expressed satisfaction over the successful investor roadshows conducted both inside Pakistan and overseas, noting that these efforts had generated encouraging interest from potential investors.
The prime minister ordered that every stage of the DISCO privatisation programme be completed within the prescribed timeline, strictly in accordance with legal requirements and internationally accepted standards, while ensuring the government receives the best possible value from the transactions.
PM Shehbaz also directed the Privatisation Commission to enhance its professional capacity by hiring internationally qualified experts in finance, legal affairs and information technology.
He said the inclusion of highly skilled professionals would strengthen the institution and improve its ability to attract greater investment in state-owned enterprises.
The premier further directed that recommendations from consultants with proven international expertise be fully integrated into every phase of the privatisation process to ensure efficiency and credibility.
He also called for the timely completion of all legal formalities and the required financial and regulatory framework so the privatisation programme could move ahead without unnecessary delays.
Stressing the importance of protecting the public, he said consumer welfare must remain at the centre of the entire privatisation exercise.
PM Shehbaz also directed the authorities to establish an effective and comprehensive system for handling customer complaints in the privatised power distribution companies.
During the meeting, the Privatisation Commission briefed participants on the progress made in implementing the first phase of the DISCO privatisation plan and updated them on the recruitment of highly qualified professionals as part of its institutional restructuring.
Officials informed the meeting that investor roadshows for the first phase, covering Gujranwala Electric Power Company (GEPCO), Faisalabad Electric Supply Company (FESCO) and Islamabad Electric Supply Company (IESCO), had been successfully held both in Pakistan and abroad.
According to the briefing, investor outreach campaigns conducted in Türkiye, Saudi Arabia and China received a positive response, strengthening confidence in the government’s privatisation initiative.
The meeting was attended by Federal Minister for Energy Sardar Awais Ahmad Khan Leghari, Federal Minister for Economic Affairs Ahad Khan Cheema, Federal Minister for Information Technology Shaza Fatima Khawaja, Prime Minister’s Adviser on Privatisation Muhammad Ali, along with senior officials from the relevant government institutions.