Divestment of three Discos begins

ISLAMABAD: The privatisation process for three electricity distribution companies (Discos) began on Tuesday after a meeting jointly chaired by the privatisation and power ministers gave its go-ahead.

The Privatisation Commission has invited technical and financial proposals for the appointment of financial advisers for private sector participation in three distribution companies — Islamabad Electric Supply Company (Iesco), Gujranwala Electric Power Company (Gepco) and Faisalabad Electric Supply Company (Fesco).

Privatisation Minister Abdul Aleem Khan and Power Minister Sardar Awais Ahmad Khan Leghari chaired the meeting.

Mr Aleem observed that the divestment of Discos will be completed in different phases, during which transparency and technical aspects must be considered.

Mr Leghari directed that the issues necessary for the privatisation of power firms should be dealt with as soon as possible, and access to the details and data of these institutions should be handed over to the interested parties.

Minister Aleem said that wherever possible, privatisation should be completed in the shortest possible time.

Briefing the meeting, the secretary of privatisation and other officials stated that the complete schedule for the privatisation of these Discos had been prepared, and its final approval would be taken from the Cabinet Committee on Privatisation and the federal government.

Appointment of financial adviser, market sounding, restructuring level and other important issues also came under discussion.

Published in Dawn, August 21st, 2024