(Digital Itla) The Privatisation Commission Board, in its meeting held today under the chairmanship of the Advisor to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, Mr. Muhammad Ali, considered and approved several important measures regarding the government's ongoing privatisation program. The Privatisation Board approved the restructuring plan for the Faisalabad Electric Supply Company (FESCO), which is part of the government's efforts to enhance efficiency, improve service delivery, and attract private sector investment. FESCO, along with the Gujranwala Electric Power Company (GEPCO) and the Islamabad Electric Supply Company (IESCO), is included in the first phase of Discos' privatisation. The restructuring plan prepared by the financial advisor will now be presented to the Cabinet Committee on Privatisation (CCoP) for consideration and approval. The Privatisation Commission has already invited Expressions of Interest (EOIs) from domestic and international investors for the first phase of Discos' privatisation, which is a major step toward increasing private sector participation and improving operational efficiency in Pakistan's power distribution sector. For the appointment of a financial advisor for the privatisation of the House Building Finance Company Limited (HBFCL), the board declared the KPMG-led consortium—which includes Bridge Factor and other partners—as the most suitable candidate. To facilitate the next phase of the transaction, the board also constituted a negotiating committee to finalize the Financial Advisory Services Agreement (FASA) with the successful consortium. Under another important agenda item, the board reviewed the proposed Transaction Advisory Services Agreement (TASA) with the Asian Development Bank (ADB) for outsourcing the operations of Islamabad International Airport (IIAP). Following a detailed discussion, the board appreciated the progress made on the transaction and provided guidance regarding certain clauses of the proposed agreement. The board also requested further clarification to be considered in the next meeting. The proposed privatisation will hand over the responsibility of the airport to a capable private sector operator under a long-term concession framework through a transparent and competitive process. This privatisation aims to enhance operational efficiency, provide better comfort for passengers, and align airport services with international best practices. Additionally, the board approved the budget estimates of the Privatisation Commission for the fiscal year 2026-27, enabling the institution to achieve its strategic objectives effectively and handle the growing volume of privatisation work in the pipeline. The board reiterated the government's commitment to implementing a transparent, competitive, and investor-friendly privatisation program that will boost economic growth, attract investment, improve public service delivery, and support the broader reform agenda. The Privatisation Commission is determined to ensure that all privatisations take place under existing laws and regulations, keeping transparency, accountability, and the best interest of the Pakistani public in mind.
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