The federal government has initiated formal steps to privatise major electricity distribution companies, including the Lahore Electric Supply Company (LESCO) and the Multan Electric Power Company (MEPCO). According to a report by The Express Tribune.
According to official documents obtained by Express News, the Privatisation Commission has directed the Power Division to provide detailed records of assets, shareholdings, and property title transfers of the companies listed in “Batch Two.” The division has already begun the process of transferring ownership titles and company shares.
As part of the exercise, MEPCO’s management has started aligning its balance sheets and off-balance-sheet records. The Privatisation Commission has specifically sought the latest financial audit reports of MEPCO, with company officials confirming that the audit is in its final stages.
The commission has also demanded details of immovable properties of the distribution companies, including their legal status, revenue records, and ownership documents. In addition, a full inventory of assets along with valuation data has been requested.
Employee-related information is also a key requirement, with the commission asking for comprehensive records of regular, contractual, and daily-wage staff, governing service rules, as well as data on pensioners, total retirees, and their pending dues.
Further instructions call for a breakdown of company liabilities and receivables, including amounts owed by consumers and other stakeholders.
The documents underline that the Power Division has already started streamlining the transfer of shares and property titles to move the privatisation process forward.
