Islamabad (Staff Reporter)
Prime Minister Muhammad Shehbaz Sharif on Monday directed authorities to accelerate the privatization process of electricity distribution companies (DISCOs) and generation companies (GENCOs), stating that the creation of a competitive electricity market through privatization is the only sustainable solution to Pakistan’s energy challenges.
According to a statement issued by the Prime Minister’s Office media wing, the prime minister chaired a review meeting on power sector reforms in Islamabad. Federal ministers Muhammad Aurangzeb, Ahad Khan Cheema, Sardar Awais Ahmed Leghari, Adviser on Privatization Muhammad Ali, Minister of State for Finance Bilal Azhar Kayani, and senior officials of relevant departments attended the meeting.
The prime minister instructed concerned authorities to expedite the privatization of DISCOs and GENCOs and to prioritize the completion of development projects aimed at improving the electricity transmission system. He emphasized that aligning the power sector with modern requirements is essential and directed that work on Battery Energy Storage Systems (BESS) be initiated through public-private partnerships and private sector participation.
During the briefing, officials informed the meeting that steps are underway for the privatization of three distribution companies—Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO). Expressions of Interest (EOIs) for these companies are expected to be issued soon.
The meeting was also told that the PC-I for the 500 kV Ghazi Brotha–Faisalabad transmission line is in the approval stage, while technical feasibility for converting imported coal-based power plants to Thar coal has been completed. Work on the railway line to transport Thar coal to power plants is currently in progress.
Officials further briefed the prime minister on the operationalization of a competitive electricity market, a reduction in line losses compared to last year due to sustained efforts, and progress on the Battery Energy Storage System project, for which concept clearance has been approved and feasibility studies are ongoing.