Islamabad (Commerce Desk): A significant development has emerged regarding the privatization of power distribution companies, as the Privatization Commission board has taken a major decision.
According to an official statement, the framework for the privatization of Faisalabad Electric Supply Company, Gujranwala Electric Power Company, and Islamabad Electric Supply Company has been approved. The transaction structure and pre-qualification criteria for the process have also been finalized.
The statement further said that the matter of DISCOs’ privatization will be sent to the Cabinet Committee for further approval, with expectations that reforms following privatization will improve the power sector.
It was also revealed that expressions of interest from investors will soon be invited to move the privatization process forward.
Meanwhile, for the privatization of Roosevelt Hotel, the Citibank consortium has been declared successful, and the appointment of a financial adviser for the project has also been approved.
The Privatization Commission reaffirmed its commitment to completing the entire process with transparency and efficiency.
