Prime Minister Muhammad Shehbaz Sharif has directed to speed up the privatization process of power distribution companies (DISCOs).

He issued these directives while chairing a review meeting regarding privatization of power distribution companies (DISCOs) in Islamabad today.

The Prime Minister said privatization of loss-making state-owned enterprises is priority of the government.

Shehbaz Sharif further directed to complete the entire privatization process in a transparent manner saying that after privatization of DISCOs, a strong regulatory framework should also be formulated.

The meeting was briefed on the progress made regarding the privatization of DISCOs.

It was briefed that in the first phase, Islamabad Electric Supply Company, Gujranwala Electric Power Company and Faisalabad Electric Supply Company will be privatized. Expression of interest regarding the privatization of these three distribution companies has been given in national and international newspapers.

The meeting was also briefed that the Privatization Committee of the Cabinet has approved the transaction structure regarding the privatization of these three DISCOs.

It was briefed that roadshows are being organized from this month to attract investors. These roadshows are also being organized at the international level to attract investors of Saudi Arabia, Turkiye and China.

The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Minister for Law and Justice Azam Nazeer Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Finance and Revenue Muhammad Aurangzeb, Minister for Power Division Sardar Owais Leghari, Advisor to the Prime Minister on Privatization Muhammad Ali, Minister of State for Finance and Railways Bilal Azhar Kayani and other relevant senior government authorities.