The 235th meeting of the Privatization Commission Board on Wednesday reviewed latest developments in ongoing transactions and took steps to enhance private sector participation in state-owned power distribution companies.
Chaired by Muhammad Ali, adviser to the Prime Minister on Privatization and chairman of the Privatization Commission, the meeting granted formal approval to initiate the process for the appointment of financial advisers to enhance private sector participation in the following distribution and generation companies:
- Hyderabad Electric Supply Company (HESCO)
- Sukkur Electric Power Company (SEPCO)
- Peshawar Electric Supply Company (PESCO)
- Hazara Electric Supply Company (HAZECO)
- 747MW Guddu Power Plant
- 525MW Nandipur Power Plant
The board also reviewed and approved the audited financial statements of the Privatization Commission for fiscal years 2022–23 and 2023–24. Additionally, it approved the budget estimates of the Privatization Commission for financial year 2025–26, supporting its continued institutional operations and transactional progress.
During the meeting, the board was apprised about the latest developments in ongoing transactions, including the pending sale of the Pakistan International Airlines Corporation Limited and the Roosevelt Hotel in New York. Similarly, it reviewed the pending sale of the 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.