Islamabad: Prime Minister (PM) Muhammad Shehbaz Sharif while directing to accelerate the pace of process of the privatization of power distribution companies (DISCOs).has said all the process of privatization be made transparent.

He issued these directives while chairing a review meeting regarding privatization of power distribution companies (DISCOs) in Islamabad Tuesday.

He held privatization of loss incurring state-owned enterprises is priority of the government.

Shehbaz Sharif further directed to complete the entire privatization process in a transparent manner .

A strong regulatory framework should also be formulated. to ensure protection of consumers interest and an effective system for supply of electricity following privatization of DISCOs.

The meeting was told that in the first phase, Islamabad Electric Supply Company, Gujranwala Electric Power Company and Faisalabad Electric Supply Company will be privatized. Expression of interest regarding the privatization of these three distribution companies has been published in national and international newspapers.

The meeting was also briefed that the Privatization Committee of the Cabinet has accorded approval to the transaction structure for the privatization of these three DISCOs.

Roadshows are being organized from this month to attract investors. Special roadshows are also being organized at the international level to attract investors of Saudi Arabia, Turkiye and China.

The meeting was attended by Deputy Prime Minister and Foreign Minister Ishaq Dar, Minister for Law and Justice Azam Nazeer Tarar, Minister for Economic Affairs Ahad Khan Cheema, Minister for Finance and Revenue Muhammad Aurangzeb, Minister for Power Division Sardar Owais Leghari, Advisor to the Prime Minister on Privatization Muhammad Ali, Minister of State for Finance and Railways Bilal Azhar Kayani and other relevant senior government authorities.