Prime Minister Shehbaz Sharif on Wednesday instructed the relevant authorities to adopt an effective and comprehensive strategy aimed at ensuring the participation of world-class investors in the privatisation of power distribution companies (Discos).
Chairing a review meeting on the privatisation of Discos and institutional restructuring of the Privatisation Commission, the prime minister instructed the relevant authorities to complete the ongoing institutional reforms and restructuring of the Privatisation Commission within one month.
He expressed satisfaction over the successful roadshows held both domestically and internationally to attract investor participation in the privatisation process.
He also directed that all stages of the privatisation of Discos be completed within the stipulated timeframe, in accordance with established rules and international best practices, while ensuring maximum value.
The prime minister instructed that the Privatisation Commission’s workforce be strengthened by recruiting internationally qualified experts in finance, law, and information technology.
He highlighted that a world-class workforce and expert professionals would enhance the commission’s institutional capacity and facilitate greater investment in state-owned enterprises.
The prime minister directed that recommendations from consultants with the highest level of professional expertise be incorporated throughout the privatisation process.
He instructed that all necessary legal arrangements and the required financial regulatory framework promptly to facilitate the privatisation process.
He emphasised that consumer interests must remain the foremost priority during the privatisation process.
The prime minister further directed that a comprehensive and effective mechanism for addressing consumer complaints be ensured in the privatised entities.
During the meeting, the Privatisation Commission briefed participants on the measures taken so far to complete the first phase of the privatisation of the distribution companies.
The meeting was also briefed on progress regarding the recruitment of highly qualified professionals as part of the commission’s institutional restructuring.
According to the briefing, roadshows aimed at attracting investors for the first phase of the privatisation of power distribution companies, GEPCO, FESCO, and IESCO, have been completed both within Pakistan and abroad.
The briefing further stated that roadshows and investor outreach activities conducted in Turkiye, Saudi Arabia, and China have yielded encouraging results in support of the privatisation initiative.
