Privatization Commission Board Approves Key Steps for Strategic Transactions

The Privatization Commission (PC) Board has approved to initiate the process for appointing Financial Advisers (FAs) to enhance private sector participation in key power sector entities. The decision was made during the 235th meeting of the Privatization Commission (PC) Board, chaired by Adviser to the Prime Minister on Privatization and Chairman of the Privatization Commission Muhammad Ali. The power sector entities include Distribution Companies (DISCOs), Hyderabad Electric Supply Company (HESCO), Sukkur Electric Power Company (SEPCO), Peshawar Electric Supply Company (PESCO), and Hazara Electric Supply Company (HAZECO), while Generation Companies (GENCOs)includes 747 MW Guddu Power Plant, and 525 MW Nandipur Power Plant. The Board also reviewed and approved the audited financial statements of the Privatization Commission for the fiscal years 2022-23 and 2023-24. In addition, it approved the commission budget estimates for the financial year 2025-26, supporting its continued institutional operations and transactional progress. The Board was further apprised of the latest developments in ongoing transactions which include Pakistan International Airlines Corporation Limited (PIACL), Roosevelt Hotel (New York), and three power distribution companies Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO). The Privatization Commission reaffirmed its commitment to ensuring transparency, investor confidence, and efficient execution of strategic transactions in alignment with national economic goals.