Prime Minister Shehbaz Sharif on Tuesday reiterated that the privatisation of loss making state owned enterprises remains a top priority of the government, describing it as a critical step toward economic stability, improved governance and reduced fiscal burden. He emphasised that timely and transparent privatisation is essential to reform institutions that have consistently drained national resources.
The prime minister expressed these views while chairing a high level meeting on the affairs of the Privatisation Commission at the Prime Minister’s House. During the session, he directed officials to further accelerate internal reforms within the Commission to ensure that the privatisation process meets the highest standards of efficiency, transparency and credibility.
The meeting was informed that the privatisation of electricity distribution companies will be carried out in two initial phases. This structured approach has been designed to address inefficiencies in the power sector, improve service delivery and attract credible private sector investment.
In the first phase, Islamabad Electric Supply Company, Gujranwala Electric Power Company and Faisalabad Electric Supply Company will be privatised. These companies have been prioritised due to their operational scale and potential for performance improvement under private management, which is expected to help reduce losses and enhance consumer services.
The second phase will include Hyderabad Electric Supply Company and Sukkur Electric Power Company. The government believes that private sector participation in these entities will strengthen financial discipline, improve governance mechanisms and ensure a more reliable electricity supply for consumers in Sindh.
Prime Minister Shehbaz Sharif stressed that the Privatisation Commission must be strengthened by inducting the best available talent from the private sector and the market. He instructed that all appointments be conducted in a fully transparent manner and directed the complete digitisation of the Commission. He further ordered that all privatisation projects undergo third party audits by internationally reputed firms to build investor confidence and ensure public trust in the reform process.
