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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 Cabinet Committee on SOEs rejected a formal request by Sui Southern Gas Company and Sui Northern Gas Pipelines Limited to be exempted from IFRS-9 and IFRS-14 international accounting standards on Thursday. Finance Minister Muhammad Aurangzeb cited the SOEs Act 2023 and IMF programme conditions in opposing the move, while the gas sector's circular debt stands at Rs. 3.44 trillion.
Pakistan's Adviser on Privatisation Muhammad Ali and Power Minister Sardar Awais Ahmad Khan Leghari held talks with Turkish officials on 25 June 2026 to explore cooperation on power sector privatisation and reform. The engagement reflects Islamabad's ongoing push to offload loss-making state-run distribution companies as part of its IMF programme commitments.
The IMF has flagged Pakistan's 81 per cent reliance on Gulf fuel imports as its most serious external economic risk following the release of a $1.1 billion programme tranche. Energy pricing has been listed as a prior action for completing the IMF review, signalling that domestic fuel and electricity costs are likely to rise in the months ahead.