ISLAMABAD:In a significant development linked to the ongoing privatization process of power distribution companies (DISCOs), the Ministry of Energy (Power Division) has formally requested provincial authorities to expedite the transfer of property titles in favor of three key DISCOs: FESCO, IESCO, and GEPCO.
Raising alarm bells over delays in the transfer of property titles to three major electricity distribution companies—FESCO, IESCO, and GEPCO, the Ministry of Energy (Power Division) has said that all required formalities have been completed.
According to an official communication issued on June 2, 2025 (No. 12(09)/2018-DISCO-1), the Ministry has informed senior provincial revenue authorities that several properties currently in the possession of the three Power Distribution Companies (DISCOs) named as Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company Limited (GEPCO) are still officially registered in the names of WAPDA or the respective provincial government in revenue records.
“It is submitted that several properties presently under the possession of Distribution Companies (DISCOS), including FESCO, IESCO, and GEPCO, are still recorded in the name of either WAPDA or the Provincial Government in the revenue records,” said the official communication titled as Transfer of Property Titles in the Name of FESCO, IESCO and GEPCO.
The letter, signed by Joint Secretary Muhammad Khalid Khan, states that reconciliation of these properties with WAPDA (Water and Power Development Authority) has already been completed as per the Ministry’s directives. However, the process of legally transferring ownership through revenue record mutation has yet to be finalized.
Reconciliation of these properties with WAPDA has already been completed in accordance with the directions of the Ministry of Energy (Power Division), Government of Pakistan, said the official communication., adding that despite the completion of all codal formalities, the process of transferring title of these properties in the name of the respective DISCOs remains pending.
The Ministry underscored that the delay in title transfer could seriously impact the federal government’s ongoing privatization process for DISCOs.
“It is further highlighted that the timely transfer of these properties is critical in view of the ongoing privatization process of DISCOs. Clear and updated ownership records are essential for ensuring transparency, enhancing asset valuation, and facilitating due diligence by potential investors. Any delay in this regard may adversely impact the progress of the privatization initiative, ,” reads the official communication.
A consolidated list of these properties has been shared with the concerned authorities.
In an urgent appeal, the Ministry has requested that necessary directions be issued to the concerned Deputy Commissioners across Punjab, including Rawalpindi, Attock, Jhelum, Gujrat, Faisalabad, Sheikhupura, and others, to expedite the mutation/transfer of these properties in favor of the FESCO, IESCO, and GEPCO.
It is relevant to note that the government has decided to privatize three power distribution companies—Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO), and Gujranwala Electric Power Company (GEPCO)—in the first phase of its privatization drive.
Earlier in January 2025, Secretary Power Division Dr. Fakhre Alam, while briefing the Senate Standing Committee on Power chaired by Senator Mohsin Aziz, provided an update on the ongoing preparations for the privatization of DISCOs. He informed the committee that steps are actively being taken to streamline the financial and legal frameworks of these companies, including clearing their balance sheets, transferring ownership of properties to the respective DISCOs, and shifting shareholding from WAPDA to the federal government.
“In the first phase, the privatization of IESCO, FESCO, and GEPCO will be undertaken,” Dr. Alam stated during the briefing.
This move is widely seen as a crucial step toward removing administrative and legal bottlenecks in the run-up to the privatization of loss-making public-sector distribution companies, with the aim of improving efficiency, attracting investment, and reducing the financial burden on the national exchequer.
