ISLAMABAD, JUN 19 /DNA/ – The Privatisation Commission (PC) Board, in its meeting held today under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, considered and approved a number of important measures relating to the Government’s ongoing privatisation programme.
As part of the Government’s efforts to enhance efficiency, improve service delivery, and attract private sector investment, the Board approved the restructuring plan for Faisalabad Electric Supply Company (FESCO). FESCO forms part of the first batch of Power Distribution Companies (DISCOs) identified for privatisation, alongside Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO). The restructuring plan, prepared by the Financial Adviser, will now be submitted to the Cabinet Committee on Privatisation (CCoP) for consideration and approval.
The Privatisation Commission has already invited Expressions of Interest (EOIs) from domestic and international investors for the privatisation of the first batch of DISCOs, marking a significant step towards expanding private sector participation in Pakistan’s power distribution sector and improving operational performance.
The Board also approved the consortium led by KPMG, in association with Bridge Factor and other consortium partners, as the highest-ranked bidder for appointment as Financial Adviser for House Building Finance Company Limited (HBFCL). To facilitate the next phase of the transaction, the Board constituted a Negotiation Committee to finalise the Financial Advisory Services Agreement (FASA) with the successful consortium.
In another important agenda item, the Board reviewed the proposed Transaction Advisory Services Agreement (TASA) with the Asian Development Bank (ADB) for the outsourcing of operations at Islamabad International Airport (IIAP). Following a detailed discussion, the Board appreciated the progress made on the transaction and provided guidance on certain provisions of the proposed agreement, seeking further clarity before its consideration at a subsequent meeting. The proposed transaction envisages the engagement of a qualified private sector operator under a long-term concession framework through a transparent and competitive process. The initiative is aimed at enhancing operational efficiency, improving passenger experience, and aligning airport services with international best practices.
The Board further approved the budget estimates of the Privatisation Commission for the financial year 2026–27, enabling the organisation to effectively pursue its strategic objectives and manage an expanding pipeline of transactions.
The Board reaffirmed the Government’s commitment to implementing a transparent, competitive, and investor-friendly privatisation programme that promotes economic growth, attracts investment, improves public service delivery, and supports the broader reform agenda.
The Privatisation Commission remains committed to conducting all transactions in accordance with applicable legal and regulatory frameworks, while ensuring transparency, accountability, and value maximisation for the people of Pakistan.
