Pakistan on Tuesday moved forward with plans to privatise three power distribution companies in the first phase of its reform programme, as the government continues efforts to restructure loss-making state-owned enterprises, according to a statement from the Prime Minister’s Office.

Chairing a review meeting in Islamabad on the privatisation of power distribution companies (DISCOs), Prime Minister Shehbaz Sharif was informed that three electricity distributors, Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO) and Faisalabad Electric Supply Company (FESCO), would be privatised in the first phase.

Expressions of interest for the three DISCOs had already been published in both national and international newspapers. The Cabinet Committee on Privatisation has also approved the transaction structure for the process.

The prime minister reiterated that the privatisation of loss-making public-sector entities remains a top government priority.

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Senior cabinet members attending the meeting included Deputy Prime Minister and Foreign Minister Ishaq Dar, Law Minister Azam Nazeer Tarar, Finance Minister Muhammad Aurangzeb, Economic Affairs Minister Ahad Khan Cheema, Power Minister Sardar Awais Leghari and Adviser on Privatisation Muhammad Ali.

“Loss-making state-owned enterprises are our priority for privatisation,” PM Shehbaz said, according to officials present at the meeting. He directed relevant authorities to expedite the process and ensure it is completed with full transparency.

The meeting was informed that roadshows would be launched that month to attract investors, with international sessions also planned for potential investors from Saudi Arabia, Türkiye, and China.

PM Shehbaz also instructed officials to establish a robust regulatory framework following the privatisation of the DISCOs and stressed that transparency must be maintained at every stage of the process.