PM Shehbaz directs 'com-comprehensive strategy' for Discos privatisation, prioritising consumers' interests
ISLAMABAD: Prime Minister Shehbaz Sharif has directed relevant authorities to adopt a "comprehensive strategy" to attract international investors for the privatisation of power distribution companies (Discos) and complete the restructuring of the Privatisation Commission within one month, according to a statement issued by his office.
A statement from the Prime Minister's Office said that while presiding over a review meeting in Islamabad, PM Shehbaz emphasised that a comprehensive and effective strategy should be adopted to ensure the participation of investors meeting international standards in the privatisation of Discos. The meeting was also told that consumers' interests should be prioritised throughout the privatisation process, as per the prime minister's instructions.
The prime minister further stated that all stages of the privatisation process should be completed within the stipulated timeframes and in accordance with established rules and international best practices, with a view to ensuring profitable outcomes.
PM Shehbaz also expressed satisfaction over what were described as "successful roadshows" in Pakistan and abroad to attract investors, noting that the events generated interest in the privatisation programme. Officials at the meeting informed the prime minister that roadshows aimed at attracting investors for the Gujranwala Electric Power Company (Gepco), Faisalabad Electric Supply Company (Fesco) and Islamabad Electric Supply Company (Iesco) in the first phase of privatisation had been concluded, according to the PMO. The meeting was told that investor outreach activities and roadshows in Turkey, Saudi Arabia and China had produced encouraging results.
The meeting was also briefed on progress in the first phase of Discos' privatisation and efforts to strengthen the Privatisation Commission through institutional restructuring and the recruitment of skilled professionals. In this context, the PM directed that the Privatisation Commission should strengthen its workforce by recruiting experts with qualifications in finance, law and information technology, presumably to meet international standards.
Coverage comparison
Dawn's coverage, in its report, focused on the prime minister's directive for a comprehensive strategy, while its other report on the meeting detailed the progress of the privatisation programme and the directives given to complete all stages within prescribed timelines. Both reports were based on official statements and quotes from government officials.
Key claims
- Prime Minister Shehbaz Sharif directed officials to complete the privatisation programme within prescribed timelines.
- The privatisation programme includes 27 state-owned enterprises.
- Financial closing process for PIA and First Women Bank has been completed.
- Expressions of interest have been advertised for Iesco, Fesco, and Gepco.
- International companies have expressed interest in these distribution companies.
- The strategy should prioritise consumers' interests.
- Roadshows have been concluded to attract investors for Gepco, Fesco, and Iesco.
- The Privatisation Commission is being strengthened through institutional restructuring.