ISLAMABAD: Prime Minister Shehbaz Sharif on Tuesday directed authorities to fast-track the privatisation of major electricity distribution companies, signalling an accelerated push to reform the power sector and ease fiscal pressures on the economy.
Chairing a high-level review meeting on the privatisation of state-owned power distribution companies, the prime minister said the sale of government stakes must be carried out in a “transparent and efficient manner” to strengthen investor confidence and ensure public trust.
He also directed officials to put in place a robust regulatory framework after privatisation to safeguard consumer interests and improve service delivery in the electricity distribution system.
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Officials briefed the meeting on progress in the planned privatisation of several electricity distribution companies, including Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO), which will be included in the first phase. They said Expressions of Interest for the three companies have already been published in national and international newspapers, formally initiating the process to attract potential investors.
The Cabinet Committee on Privatisation has approved the transaction structure for the companies, while preparatory work is now focused on market engagement and investor outreach, officials added.
A series of roadshows are being organised this month to attract domestic and foreign investors, with separate sessions planned in Saudi Arabia, Turkiye, and China to broaden participation and increase competition.
The meeting was also informed that the initiative is expected to reduce fiscal pressures on the government while improving efficiency in the power distribution network. The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Law Minister Azam Nazeer Tarar, Finance Minister Muhammad Aurangzeb, Power Minister Awais Leghari, Economic Affairs Minister Ahad Cheema, Adviser to the Prime Minister on Privatisation Muhammad Ali, Minister of State for Finance and Railways Bilal Azhar Kiani and senior officials.
Copyright Business Recorder, 2026
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