The government has taken major steps toward privatizing Lahore Electric Supply Company (LESCO) and Multan Electric Power Company (MEPCO), while also advancing the outsourcing of operations at Lahore and Karachi airports.

The Privatisation Commission Board declared the proposed transactions for LESCO and MEPCO as major privatization deals, paving the way for the appointment of financial advisers for both power distribution companies.

The commission will now initiate the process of selecting financial advisers to help structure and execute the transactions.

LESCO and MEPCO are the fourth batch of power distribution companies included in the government’s privatization program. Processes for three earlier batches of distribution companies are already underway.

Meanwhile, the board approved an EY Parthenon-led consortium as the top-ranked bidder for financial advisory services for outsourcing Allama Iqbal International Airport in Lahore and Jinnah International Airport in Karachi.

A Negotiation Committee has also been constituted to finalize the Financial Advisory Services Agreement with the selected consortium.

The decisions were taken during the 257th meeting of the Privatisation Commission Board on August 11, chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission.

According to the commission, the latest measures are part of the government’s broader privatization agenda. It said the transactions would be pursued through transparent and competitive procedures, with emphasis on accountability and securing maximum value for the government and the public.