Prime Minister Shehbaz Sharif on Wednesday instructed relevant authorities to adopt a comprehensive strategy to ensure the participation of world-class investors in the privatisation of power distribution companies (Discos). Chairing a review meeting on the privatisation of Discos and the institutional restructuring of the Privatisation Commission, he ordered the completion of ongoing reforms and restructuring within one month.
Expressing satisfaction over domestic and international roadshows, the prime minister directed that all privatisation stages be finished within the stipulated timeframe, following established rules and international best practices while ensuring maximum value. He also called for strengthening the Privatisation Commission's workforce by recruiting internationally qualified experts in finance, law, and information technology.
Highlighting that expert professionals would enhance institutional capacity and facilitate greater investment in state-owned enterprises, the prime minister instructed that recommendations from top-tier professional consultants be incorporated throughout the process. He further mandated necessary legal arrangements and a required financial regulatory framework to facilitate the initiative.
Shehbaz emphasised that consumer interests must remain the foremost priority, directing that a comprehensive and effective mechanism for addressing consumer complaints be established in the privatised entities. The Privatisation Commission briefed participants that roadshows for the first phase involving GEPCO, FESCO, and IESCO have been completed in Pakistan, Turkiye, Saudi Arabia, and China with encouraging results.