Pakistan has moved a step closer to selling its electricity distributor in the capital. The Privatization Commission has cleared ten local and foreign investors to take part in the IESCO privatization, the commission said after its 260th board meeting. Muhammad Ali, who advises the prime minister on privatization, presided over the session.
Who made the shortlist
The list combines three Turkish energy firms with several well-known Pakistani conglomerates and consortia of investors. The commission said the level of interest from domestic and foreign investors points to appetite for Pakistan's power distribution sector. Qualified parties now move to the next round, in which they can open an online data room, a secure repository of company records, and carry out a detailed due diligence review before the process goes further.
Where IESCO fits
The IESCO privatization is part of a broader push. IESCO belongs to the first group of distribution companies, usually called DISCOs, that the government has picked for sale. A DISCO buys bulk power and delivers it to homes and businesses in its area, so it is the final link in the supply chain. FESCO and GEPCO are in the same first batch, which the government says is meant to raise efficiency, improve services and manage public assets better.
The board also approved new members for the Artistic Milliners consortium, which had earlier cleared the screen for the FESCO sale. The change would allow the group to join early distribution-company deals, subject to the terms of each one.
ZTBL and State Life
The board also revised how the transaction is built and the restructuring blueprint of Zarai Taraqiati Bank Limited, known as ZTBL, which supports farmers and the wider agriculture sector. The commission explained the revisions came after the prime minister asked that the bank keep farm lending intact once it is sold. The bank's role in agricultural finance is a key factor in the proposed deal.
Separately, Deutsche Bank heads a consortium that the board ranked first to advise on the sale of State Life, the state-owned insurer known as SLIC. A negotiation panel is now tasked with finalising the advisory agreement with the group. The commission stressed that this is a preparatory step and not, by itself, a sale of the insurer.
The commission added that it wants open, competitive deals that bring investment and deliver value to the state and citizens.
Aasan alfaaz mein
Islamabad ki bijli ki distribution company IESCO ki nijkari ke liye 10 investors agle marhale mein pohanch gaye hain. In mein teen Turkish energy companies aur kai Pakistani business groups shamil hain. Sauda abhi mukammal nahi hua, aur is faisle mein bill ya bijli ki supply badalne ka zikr nahi hai. Aam log ke liye ahem baat yeh hai ke amal aage barh raha hai, lekin natije abhi baaki hain.
