Islamabad: Prime Minister Muhammad Shehbaz Sharif has directed to speed up the privatization process of power distribution companies (DISCOs). He issued these directives while chairing a review meeting regarding the privatization of DISCOs in Islamabad today. The Prime Minister emphasized that the privatization of loss-making state-owned enterprises is a priority for the government.

According to Radio Pakistan, Shehbaz Sharif further instructed that the entire privatization process should be completed in a transparent manner. He also underscored the need for a strong regulatory framework post-privatization of DISCOs. The meeting provided a briefing on the progress made concerning the privatization of these companies.

In the first phase, Islamabad Electric Supply Company, Gujranwala Electric Power Company, and Faisalabad Electric Supply Company are set to be privatized. An expression of interest for the privatization of these three distribution companies has been published in national and international newspapers. The Privatization Committee of the Cabinet has approved the transaction structure for these privatizations.

Furthermore, roadshows are being organized starting this month to attract investors. These roadshows will also take place internationally, aiming to engage investors from Saudi Arabia, Turkiye, and China.

The meeting saw attendance from key figures including Deputy Prime Minister and Foreign Minister Ishaq Dar, Minister for Law and Justice Azam Nazeer Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Finance and Revenue Muhammad Aurangzeb, Minister for Power Division Sardar Owais Leghari, Advisor to the Prime Minister on Privatization Muhammad Ali, Minister of State for Finance and Railways Bilal Azhar Kayani, and other senior government authorities.