Bids for power firms being evaluated
ISLAMABAD: The National Assembly Standing Committee on Privatisation was informed on Thursday that the evaluation of interested parties was at an advanced stage for the sale of 51 per cent to 100 per cent shareholding, along with management control, in each electricity distribution company (Disco).
Committee Chairman Dr Farooq Sattar stressed the need for a transparent, competitive and market-based process.
He said the success of the privatisation process depended on meeting transparency requirements, including appropriate valuation and reserve prices, effective post-privatisation regulation and Nepra oversight as well as periodic financial and performance audits.
The committee received a briefing on the progress of Disco privatisation and was informed that Alvarez & Marsal, financial adviser to the Privatisation Commission, had completed due diligence, following which the restructuring plan and transaction structure were approved by the Privatisation Commission Board and the Cabinet Committee on Privatisation (CCoP).
NA panel told 10 interested parties pre-qualified for Fesco privatisation
The National Assembly committee was informed that the Expression of Interest (EoI) process had been completed, with 10 parties pre-qualified for Faisalabad Electric Supply Company (Fesco), while 11 EoIs for Gujranwala Electric Power Company (Gepco) were under evaluation. The process for Islamabad Electric Supply Company (Iesco) was also completed recently.
The committee also reviewed progress on the privatisation of Pakistan International Airlines Corporation Limited (PIACL) and the issue of delayed maturity claims of Postal Life Insurance Corporation Ltd (PLICL).
It was informed that bidding for a 75pc equity stake in PIACL was held on Dec 23 last year with the Arif Habib-led consortium submitting the highest bid of Rs135bn against the reference price of Rs100bn.
Transaction documents were executed on Jan 29, 2026, while First Completion was achieved on June 29, resulting in the transfer of management control.
The successful bidder has conveyed its intention to exercise the Call Option for the remaining 25pc stake, subject to applicable contractual requirements and Second Completion.
The committee emphasised continued regulatory oversight, service quality and compliance with applicable aviation laws and international standards.
As for outstanding policyholders’ claims of PLICL, the committee was informed that liabilities up to June 2026 stood at Rs15.5bn, covering approximately 55,450 claims. Against an additional funding requirement of Rs8.45bn, only Rs3bn had been released, leaving a substantial backlog.
Published in Dawn, September 18th, 2026
