Karachi, August 02, 2024: The federal government has announced the privatization of 13 power distribution companies (DISCOs) as part of a phased plan unveiled by the Ministry of Energy.
According to the notification, the Ministry of Energy has issued directives for the privatization of 12 organizations within the power sector.
The privatization process will occur in phases, with the first phase focusing on four DISCOs: FESCO, GEPCO, HESCO, and IESCO.
The second phase will include the privatization of MEPCO, PESCO, and additional companies as specified in the notification.
The government aims to complete the privatization process in phases to attract private investment in the power sector.
Previously, the Cabinet Committee on State-Owned Enterprises approved the dissolution of the boards of nine government-run power distribution companies. A notification for this dissolution was issued following the Cabinet’s ratification of the decision. The committee has also approved the formation of new boards for nine out of the eleven state-owned power companies.
This approval was based on the recommendation of the Board Nominations Committee, headed by the federal minister for Power. New boards will be established for LESCO, FESCO, MEPCO, GEPCO, and IESCO.
