The federal government has accelerated efforts to privatise power distribution companies (DISCOs) and the House Building Finance Corporation (HBFC), aiming to streamline the process and achieve key economic objectives.
The Privatisation Commission, led by Federal Minister for Privatisation and Investment Aleem Khan, convened to review the progress of entities included in the privatisation list.
Sources disclosed that the commission is now seeking names for appointing financial advisers for the DISCOs’ transactions while awaiting the International Finance Corporation (IFC) Board’s approval to proceed with HBFC’s privatisation.
HBFC is considered ready for immediate privatisation, contingent only on the IFC Board’s green light. The IFC, a member of the World Bank Group, specializes in promoting private sector development in emerging markets through investments and advisory services.
The commission resolved to secure IFC’s approval promptly to advance the transaction timeline for HBFC.
Progress on DISCOs’ privatisation was also highlighted. It was noted that the process has reached an advanced stage, with offers received for the selection of financial advisers to guide the transactions.
These developments signal a renewed push by the government to privatise key entities in its broader effort to restructure the energy sector and attract private sector investment.
