Islamabad Dec 15 : Prime Minister Muhammad Shehbaz Sharif on Monday directed the relevant authorities to expedite the privatization process of power distribution companies (DISCOs) and generation companies (GENCOs), terming it a sustainable solution to the country’s energy challenges.
Chairing a meeting on the power sector, the prime minister emphasized that privatization of the energy system and the creation of a competitive electricity market were essential for long-term stability and efficiency.
During the meeting, the prime minister was informed that steps were underway to privatize Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO), with Expressions of Interest (EoIs) to be issued shortly.
Prime Minister Shehbaz Sharif instructed authorities to complete ongoing development projects on a priority basis to further improve the country’s power distribution system.
To align the electricity sector with modern requirements, he also directed the initiation of work on a Battery Energy Storage System (BESS) through public-private partnerships and private sector participation.
The prime minister was briefed on progress related to the power sector roadmap, power generation and distribution, privatization of DISCOs and GENCOs, and other ongoing reforms.
Officials informed the meeting that the PC-I of the 500kV Ghazi Barotha–Faisalabad transmission line was at the approval stage. It was also shared that the technical feasibility of shifting imported fuel-based power plants to Thar coal had been completed, while work on the railway line for coal transportation was in progress.
The prime minister was further briefed on the operationalization of a competitive electricity market. The concept clearance proposal for the Battery Energy Storage System project has been approved, and its feasibility study is currently underway.
The briefing also noted that line losses have declined compared to last year due to sustained reform efforts.
The meeting was attended by Federal Ministers Muhammad Aurangzeb, Ahad Khan Cheema, and Sardar Awais Ahmed Leghari, Advisor Muhammad Ali, Minister of State for Finance Bilal Azhar Kayani, and senior officials from relevant departments.