Prime Minister Shehbaz Sharif on Wednesday directed formulating a comprehensive strategy to attract leading global investors for the privatisation of power distribution companies (DISCOs).
Chairing a review meeting on the DISCO privatisation programme and the institutional restructuring of the Privatisation Commission, he directed officials to complete the commission’s ongoing reforms and restructuring within one month.
Shehbaz expressed satisfaction over the successful investor roadshows conducted both in Pakistan and overseas, describing them as a positive step toward increasing international participation in the privatisation process.
He stressed that every stage of the DISCO privatisation should be completed within the prescribed timeline, strictly following legal requirements and international best practices while ensuring maximum value for the state.
Shehbaz also ordered the strengthening of the Privatisation Commission by hiring internationally experienced professionals in finance, legal affairs, and information technology. He said that bringing in highly qualified experts would enhance the commission’s institutional capacity and help attract greater investment into state-owned enterprises.
He also directed that recommendations from top-tier consultants be integrated throughout the privatisation process to ensure transparency and efficiency.
The PM instructed authorities to swiftly finalise all necessary legal measures and establish the required financial and regulatory framework to facilitate the privatisation programme. He said consumer interests must remain the highest priority throughout the privatisation exercise.
Shehbaz also called for a robust and effective complaint resolution system to protect consumers after the transfer of distribution companies to private ownership.
During the meeting, officials from the Privatisation Commission briefed participants on progress made in completing the first phase of the DISCO privatisation programme, as well as developments in recruiting highly qualified professionals under the commission’s restructuring plan.
According to the briefing, investor roadshows for the first phase of the privatisation of GEPCO, FESCO, and IESCO have been successfully held in Pakistan and abroad. Officials added that outreach activities in Türkiye, Saudi Arabia, and China generated encouraging investor interest, providing momentum for the government’s privatisation initiative.
