The Privatisation Commission (PC) Board has recommended approving the restructuring plans for FESCO, GEPCO, and IESCO, clearing another key milestone in the government’s plan to privatize the three electricity distribution companies.

The recommendation, made during a meeting chaired by Adviser to the Prime Minister on Privatisation Muhammad Ali, will now be placed before the Cabinet Committee on Privatisation (CCoP) for approval.

The restructuring plans are based on the companies’ audited financial statements as of March 31, 2026, and are intended to improve the commercial appeal of the transactions while maximizing value for the government.

As part of the proposed structure, the government will create a Special Purpose Vehicle (SPV) to separate selected assets and liabilities from the three DISCOs before offering them to investors.

The Board was also informed that the privatization process has attracted strong interest from both domestic and international investors. Expressions of Interest (EOIs) are due by August 7 for FESCO, August 21 for GEPCO, and September 7 for IESCO.

In a separate decision, the Board formed two transaction committees to oversee the outsourcing of Islamabad, Lahore, and Karachi airports. The Asian Development Bank (ADB) has been appointed financial adviser for Islamabad International Airport, while advisers for Lahore and Karachi airports are being selected.

The Privatisation Commission said it remains committed to implementing the government’s privatization programme through a transparent and competitive process aimed at attracting investment and improving the performance of state-owned enterprises.