Pakistan has taken another major step in its privatisation drive as the Privatisation Commission of Pakistan advances plans to offload three key electricity distribution companies along with progress on the high-profile sale process of the Roosevelt Hotel in New York.

The development came during the 250th meeting of the PC Board, chaired by Muhammad Ali, where officials cleared key proposals to be sent to the Cabinet Committee on Privatisation for approval. The first tranche of power sector entities includes Faisalabad Electric Supply Company, Gujranwala Electric Power Company, and Islamabad Electric Supply Company.

The board signed off on the overall transaction structure, pre-qualification framework, and restructuring roadmap for the three DISCOs. Once the cabinet gives the green light, Expressions of Interest will be invited from potential investors, marking a critical step toward partial or full privatisation.

Officials say the move is part of a wider effort to reform Pakistan’s power sector by cutting losses, improving efficiency, and bringing in private-sector management to improve service delivery. Similar privatisation phases have previously included other state-owned utilities and assets.

In a separate decision, the board also moved forward on the Roosevelt Hotel transaction in the United States, selecting a Citibank-led consortium as the top-ranked adviser for the deal. Citibank will now enter negotiations to finalize the advisory agreement.

The iconic The Roosevelt Hotel—long considered one of Pakistan’s most significant overseas assets—has been under consideration for privatisation for years, with options ranging from outright sale to redevelopment partnerships.

The Commission said the broader reform plan is aimed at stabilizing the post-privatisation structure, improving regulatory clarity, and ensuring long-term commercial viability in both the energy and asset management sectors.