Prime Minister (PM) Shehbaz Sharif has directed authorities to expedite the privatization process of power distribution companies (DISCOs).
The premier has directed authorities to complete the process either through full privatization or by transferring management of the DISCOs to the provinces.
The directive comes in light of International Monetary Fund (IMF) conditions, which require Pakistan to complete pre-privatization measures by January 31, 2025, as part of structural reforms for the upcoming fiscal year.
Sources within the Power Division confirm that the IMF has demanded faster implementation of the privatization agenda.
In the first phase, the privatization of Islamabad Electric Supply Company (IESCO), Gujranwala Electric Power Company (GEPCO), and Faisalabad Electric Supply Company (FESCO) will be prioritized, as these companies have relatively lower losses compared to other DISCOs.
