ISLAMABAD: The Privatisation Commission Tuesday signed a Financial Advisory Services Agreement (FASA) with the consortium led by M/S Alvarez & Marsal Middle East Limited and including International Consulting Associates (Pvt) Limited (iConsult), Yousuf Adil Chartered Accountants, Vellani & Vellani, Power Planners International (Pvt) Ltd and NEOS Group Inc marking a significant step towards private sector participation in three key Distribution Companies (DISCOs), Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO).
The ceremony was attended by senior officials of the Privatisation Commission and A&M Consortium. This strategic initiative aligns with the government’s commitment to improving efficiency, reducing losses, and ensuring long-term sustainability in the power distribution sector.
Under the agreement, the A&M Consortium will provide expert financial advisory services to facilitate private sector investment in FESCO, GEPCO and IESCO.
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The consortium will conduct due diligence, carry out market sounding and investor outreach, develop transaction structures, recommend sequencing of the transactions and assist in the bidding process to attract credible private sector investor interest in privatisation of the three DISCOs.
The participation of the private sector in DISCOs is expected to bring operational improvements, better service quality for consumers and a more financially sustainable electricity distribution framework.
The Privatisation Commission, in collaboration with all relevant stakeholders, will ensure a transparent and competitive process in line with best international practices.
The Privatisation Commission secretary thanked all the stakeholders including the evaluation committee members and Power Division for their contributions during the procurement process.
He emphasised the need for a whole-of-government approach in successful implementation of the privatisation programme and attracting private sector investments. The privatisation of Batch-1 of DISCOs is expected to be completed by end of year 2025.
Copyright Business Recorder, 2025
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