Prime Minister Shehbaz Sharif on Wednesday directed relevant authorities to adopt an effective and comprehensive strategy aimed at ensuring the participation of world-class investors in the privatisation of power distribution companies.
Chairing a review meeting on the DISCOs’ privatisation process and the institutional restructuring of the Privatization Commission, the prime minister instructed that ongoing institutional reforms and the Commission’s restructuring be completed within one month. He expressed satisfaction over the roadshows held domestically and internationally to attract investor participation in the process.
Sharif also directed that all stages of DISCO privatisation be completed within the stipulated timeframe, in line with established rules and international best practices, while ensuring maximum value for the government.
He instructed that the Privatization Commission’s workforce be strengthened through the recruitment of internationally qualified experts in finance, law, and information technology, noting that a world-class team of professionals would enhance the Commission’s institutional capacity and help attract greater investment in state-owned enterprises. He further directed that recommendations from consultants with the highest level of professional expertise be incorporated throughout the privatisation process.
The prime minister instructed that all necessary legal arrangements and the required financial regulatory framework be completed in a timely manner to facilitate the process, while stressing that consumer interests must remain the foremost priority throughout privatisation. He also directed that a comprehensive and effective mechanism for addressing consumer complaints be put in place within the privatised entities.
During the meeting, the Privatization Commission briefed participants on measures taken so far to complete the first phase of the DISCOs’ privatisation.
