ISLAMABAD: The Privatisation Commission (PC) Board, in its 250th meeting held under the chairmanship of Muhammad Ali, Adviser to the Prime Minister on Privatisation, approved key recommendations for submission to the Cabinet Committee on Privatisation (CCoP) regarding the privatisation of the first batch of power distribution companies (Discos).
The companies included in this phase are Faisalabad Electric Supply Company (Fesco), Gujranwala Electric Power Company (Gepco) and Islamabad Electric Supply Company (Iesco).
The board approved the proposed transaction structure, pre-qualification criteria and restructuring plans for each of the three Discos, marking a significant milestone in the privatisation process.
These recommendations will now be submitted to the CCoP for consideration and approval at its upcoming meeting. Following approval, Expressions of Interest (EOIs) will be invited from prospective investors. The board noted that the proposed framework is designed to attract credible private-sector participation and unlock value in the power distribution sector.
In addition, the Board reviewed proposed reforms for the post-privatisation regulatory framework presented by the Privatisation Commission. These reforms aim to ensure commercial sustainability, regulatory predictability and improved service quality across the sector.
In a separate agenda item, the Board approved a consortium led by Citibank as the top-ranked bidder for appointment as Financial Adviser for the privatisation of the Roosevelt Hotel in New York. A negotiation committee has also been constituted to finalise the Financial Advisory Services Agreement (FASA) with the successful consortium.
The Board reaffirmed its commitment to advancing the government’s privatisation programme in a transparent, efficient and results-oriented manner, with a focus on the timely execution of key transactions.
