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Pakistan has prequalified 10 bidders for the privatisation of IESCO, the Islamabad Electric Supply Company, moving the transaction into its next competitive phase. IESCO is the first state-owned distribution company in the government's IMF-linked privatisation queue, with other DISCOs expected to follow if the process concludes successfully.
Pakistan's Privatisation Commission has approved EY-Parthenon as financial adviser for outsourcing Lahore and Karachi airports while designating LESCO and MEPCO as the fourth batch of power distribution companies to enter the privatisation process. FESCO, leading the first DISCO batch, has already attracted around a dozen local and international investors with expressions of interest currently under review.
The Privatisation Commission has received 12 expressions of interest for FESCO from three Turkish firms, one Chinese company, and eight Pakistani investor groups. Bidders are seeking a 51% to 100% stake with full management control, marking a significant milestone in the government's DISCO privatisation programme.
Prime Minister Shehbaz Sharif has ordered a comprehensive technical audit of billing systems across all power distribution companies, directing the Power Division to set clear performance targets and eliminate electricity theft. Five DISCOs — IESCO, LESCO, GEPCO, FESCO, and MEPCO — achieved 100 per cent billing recovery in fiscal year 2025-26.
Pakistan's Auditor General has flagged HESCO, LESCO, and FESCO for operating without audited accounts from 2023 to 2025, leaving the finances of three major electricity distribution companies unverified. The same report identifies Rs117.8 billion in under-realised FBR super tax and Rs117 billion in outstanding petroleum recoveries.
Pakistan's distribution companies have rolled out a redesigned electricity bill format as part of a Ministry of Energy initiative. The new layout applies across all nine publicly owned DISCOs and aims to help millions of consumers better understand their monthly electricity charges.
Power Minister Awais Leghari has ordered immediate disciplinary proceedings against underperforming officers across all Pakistani DISCOs after a six-month audit of the 118 helpline system found tens of thousands of consumer complaints resolved late or left unattended. PESCO and SEPCO have already suspended identified officers, with all remaining DISCOs directed to follow suit.
Pakistan's Federal Minister for Power has ordered disciplinary action against more than 100 SDOs and XENs identified as chronic underperformers across the country's electricity distribution companies. Suspensions have already begun at PESCO in Khyber Pakhtunkhwa and SEPCO in interior Sindh, with officers at all other government-managed DISCOs also placed on notice.
LESCO has begun 4-hour daily load shedding on Lahore urban feeders, citing a 1,200MW supply shortfall as peak summer demand approaches.