Govt invites expressions of interest for sale of three major Discos
ISLAMABAD: The Privatisation Commission on Tuesday invited expressions of interest (EOIs) from local and international investors for the much-delayed sale of three of the country’s most viable electricity distribution companies (Discos). The deadline for submitting EOIs for the partial or full sale of the Discos falls in the first quarter of the next fiscal year. The three companies are Faisalabad Electric Supply Company (Fesco), Gujranwala Electric Power Company (Gepco), and Islamabad Electric Supply Company (Iesco). The three are considered the most viable Discos among the 11 electricity distribution companies originally carved out of the Water and Power Development Authority (Wapda) in 1998. The divestment aimed to improve service quality through private-sector management practices. The plan was supposed to be completed within five years but failed to take off over the following three decades. The transaction offers investors an opportunity to acquire between 51pc and 100pc shareholding, along with management control, in each of the three distribution companies. The initiative forms part of the government’s broader economic reform agenda aimed at improving efficiency, strengthening service delivery, attracting foreign and domestic investment, and promoting sustainable growth in Pakistan’s power sector, the Privatisation Commission said. Fesco, Gepco and Iesco collectively serve more than 14 million consumers across major industrial, commercial and urban centres of Punjab, the Islamabad region, and parts of Azad Jammu and Kashmir. The three Discos operate extensive electricity distribution networks covering key economic corridors and represent strategically important assets within Pakistan’s energy landscape. The Privatisation Commission said the process would be undertaken in a transparent, competitive and investor-friendly manner in accordance with international best practices. Interested parties may participate individually or as part of a ...
Original source: Dawn Pakistan