PM Shehbaz Orders Faster Privatisation of IESCO, GEPCO and FESCO
Prime Minister Shehbaz Sharif has directed officials to accelerate the privatisation of IESCO, GEPCO and FESCO, three distribution companies that together serve more than 14 million consumers across Punjab, Islamabad and Azad Jammu and Kashmir. Investor roadshows targeting Saudi Arabia, Turkiye and China are planned for June 2026, with expressions of interest due by the first quarter of the next fiscal year.
Prime Minister Shehbaz Sharif on Tuesday directed officials to accelerate the privatisation of electricity distribution companies (DISCOs), with the first phase targeting IESCO, GEPCO and FESCO — three utilities that together serve more than 14 million consumers across Punjab, the Islamabad region, and parts of Azad Jammu and Kashmir.
Three DISCOs in the First Phase
The opening tranche of Pakistan's DISCO privatisation programme centres on three commercially stronger utilities:
- IESCO (Islamabad Electric Supply Company) — serving the federal capital, Rawalpindi, Attock, Jhelum and surrounding districts
- GEPCO (Gujranwala Electric Power Company) — covering Gujranwala, Gujrat, Sialkot, Hafizabad and adjoining industrial corridors
- FESCO (Faisalabad Electric Supply Company) — the country's most industrially intensive DISCO, supplying Faisalabad, Sargodha, Jhang and central Punjab
All three operate in dense industrial and commercial zones and carry comparatively lower accumulated losses than southern and western DISCOs such as HESCO (Hyderabad Electric Supply Company), PESCO (Peshawar Electric Supply Company) or QESCO (Quetta Electric Supply Company), making them more attractive to investors seeking a viable turnaround asset with real revenue potential.
Where the Process Stands
The Privatisation Commission formally invited expressions of interest (EOI) on 19 May 2026, opening both partial and full-sale structures to prospective investors. The Cabinet Privatisation Committee has since approved the transaction framework, providing legal clarity to the deal architecture. The deadline for EOI submissions falls within the first quarter of the next fiscal year — broadly July to September 2026.
Chairing Tuesday's meeting, the prime minister called for a
Frequently Asked
Questions about this story
Which DISCOs are being privatised in the first phase?
The first phase targets IESCO (Islamabad Electric Supply Company), GEPCO (Gujranwala Electric Power Company) and FESCO (Faisalabad Electric Supply Company). Together they serve more than 14 million consumers across Punjab, the Islamabad Capital Territory and parts of Azad Jammu and Kashmir.When is the deadline for investors to submit expressions of interest for the DISCO privatisation?
The deadline for submitting EOIs for the partial or full sale of IESCO, GEPCO and FESCO falls in the first quarter of the next fiscal year — broadly July to September 2026. The Privatisation Commission issued the invitation on 19 May 2026.Will my electricity bills change immediately after IESCO, GEPCO or FESCO are privatised?
No immediate change to bill structures is expected. Any tariff revision following a change of ownership requires a formal NEPRA public hearing and written determination before it can take effect, so consumers will have advance notice of any approved adjustment.Does this DISCO privatisation plan affect K-Electric customers in Karachi?
No. K-Electric is already a privately owned utility and is not part of this privatisation process. The current programme covers only IESCO, GEPCO and FESCO in the first phase, with other government-owned DISCOs expected to follow in later tranches.Which international investors is Pakistan targeting for the DISCO privatisation roadshows?
The government has planned roadshows for June 2026 targeting investors from Saudi Arabia, Turkiye and China. Both partial and full-sale deal structures are on offer, and the Privatisation Commission has opened expressions of interest to both local and international bidders.
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