ISLAMABAD: Prime Minister Shehbaz Sharif on Wednesday directed authorities to formulate a comprehensive strategy to attract leading international investors for the privatisation of state-owned electricity distribution companies (DISCOs), while ordering the restructuring of the Privatisation Commission to be completed within one month.

Chairing a high-level meeting to review the privatisation of power distribution companies and institutional reforms at the Privatisation Commission, the prime minister instructed officials to complete the sale process within the prescribed timeframe and in accordance with international best practices.

Shehbaz Sharif directed the commission to strengthen its institutional capacity by recruiting experts in finance, law and information technology, saying enhanced professional expertise would improve investor confidence and ensure a transparent privatisation process.

He also instructed officials to complete the required legal and regulatory framework without delay to facilitate the privatisation programme.

The prime minister said the encouraging participation of domestic and international investors in roadshows promoting the privatisation initiative reflected growing confidence in Pakistan’s economic reforms. He directed authorities to incorporate recommendations from experienced international consultants throughout the process.

Emphasising consumer protection, Shehbaz Sharif ordered the establishment of an effective mechanism to address public complaints after the power distribution companies are privatised, saying consumer interests must remain a top priority.

Officials informed the meeting that investor roadshows for the first phase of DISCO privatisation, covering the Gujranwala Electric Power Company (GEPCO), Faisalabad Electric Supply Company (FESCO) and Islamabad Electric Supply Company (IESCO), had been completed successfully.

They said promotional activities in Turkiye, Saudi Arabia and China had generated encouraging interest from potential investors.

The meeting was attended by Energy Minister Awais Ahmed Khan Leghari, Economic Affairs Minister Ahad Khan Cheema, Information Technology Minister Shaza Fatima Khawaja, Adviser to the Prime Minister on Privatisation Muhammad Ali and senior government officials.