The Privatisation Commission has taken key steps to boost reforms by starting the process to appoint financial advisers for four power distribution companies and two power generation plants. At the same time, it received strong interest from eight parties for managing Pakistan International Airlines Corporation Ltd (PIACL).
This move aims to speed up privatisation and encourage private sector participation, which will improve efficiency and reduce the government’s financial burden. During its recent meeting, the commission approved hiring advisers for Hyderabad Electric Supply Company (Hesco), Sukkur Electric Power Company (Sepco), Peshawar Electric Supply Company (Pesco), and Hazara Electric Supply Company (Hazeco). These companies will be privatised in the second phase.
Additionally, financial advisers will be appointed for two major power plants: the 747MW Guddu Power Plant and the 525MW Nandipur Power Plant. These appointments follow the earlier selection of advisers for Faisalabad Electric Supply Company (Fesco), Gujranwala Electric Power Company (Gepco), and Islamabad Electric Supply Company (Iesco), marking the first phase of privatisation.
Regarding Pakistan International Airlines, the deadline for submitting expressions of interest (EoIs) and statements of qualification (SOQs) for management control expired on Thursday. This marks the second attempt to privatise the national carrier, with eight parties showing interest and five submitting full qualifications by the deadline.
Notable consortia include Lucky Cement Ltd with Hub Power Holdings Ltd, Arif Habib Corporation Ltd with Fatima Fertiliser, and Air Blue Ltd, among others. The Privatisation Commission will now assess these submissions, and shortlisted parties will access the virtual data room for due diligence.
Finally, the commission approved its audited financial statements for 2022-23 and 2023-24, along with the 2025-26 budget. These steps will support the commission’s ongoing privatisation activities and ensure smooth operations moving forward.