The Cabinet Committee on Privatisation (CCOP) on Friday approved the transaction structure for the privatisation of three power distribution companies (DISCOs), Islamabad Electric Supply Company, Gujranwala Electric Power Company and Faisalabad Electric Supply Company, as part of the government’s efforts to improve efficiency and financial sustainability in the power sector.
The meeting, chaired by Deputy Prime Minister and Foreign Minister Mohammad Ishaq Dar, reviewed key matters related to the power sector privatisation programme, according to an official statement issued on Friday.
The committee approved the transaction structure and decided to offer outright sale of 51% to 100% share capital in each DISCO along with management control, subject to approval by the federal cabinet.
The government said the move is aimed at strengthening service delivery, ensuring reliable electricity supply and introducing private sector efficiency into the power distribution system.
Read More: EoIs for 3 DISCOs will be floated after approval: Privatisation Commission
The meeting was attended by Federal Minister for Power, Adviser on Privatisation, Special Assistant to the Prime Minister Tariq Bajwa, secretary cabinet, secretary privatisation commission, secretary privatisation division, secretary power division, chairman of National Electric Power Regulatory Authority, chairman of Securities and Exchange Commission of Pakistan and senior officials from relevant ministries and departments.
