The federal government has officially started the privatisation process for two major power distribution companies, Lahore Electric Supply Company (LESCO) and Multan Electric Power Company (MEPCO), aiming to improve efficiency, transparency, and investor confidence.
To accelerate the process, the Privatisation Commission directed the Power Division to submit detailed records of company assets, property transfers, and shareholdings. Officials confirmed that ownership titles and shares are already being streamlined for handover.
Furthermore, MEPCO management has begun updating its financial data, including balance sheets and off-balance-sheet records. The Commission also requested the company’s latest audit report, which officials stated is in its final stages of completion.
In addition, the Commission demanded comprehensive details of immovable properties owned by the companies. This includes their legal status, revenue documents, and ownership records, along with a full inventory of assets supported by valuation figures.
The government has also sought complete employee data, covering permanent, contractual, and daily-wage staff, service rules, and pensioner information. Officials emphasized that liabilities and pending dues of retirees must also be clearly listed.
Moreover, the Commission asked for a detailed account of liabilities and receivables, particularly amounts owed by consumers and stakeholders. Authorities stated that streamlining these records will make the privatisation process more transparent and investor-friendly.