The Privatisation Commission has signed a Financial Advisory Services Agreement (FASA) with a consortium led by Alvarez & Marsal Middle East Limited, marking a key step in the planned privatisation of Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO).
According to a news report, the consortium includes International Consulting Associates (iConsult), Yousuf Adil Chartered Accountants, Vellani & Vellani, Power Planners International, and NEOS Group Inc.
Under the agreement, the financial advisory group will conduct due diligence, investor outreach, transaction structuring, and assist in the bidding process to facilitate private sector participation in these three major power distribution companies.
Senior officials from the Privatisation Commission and the A&M Consortium attended the signing ceremony. The initiative aligns with the government’s strategy to improve efficiency, reduce losses, and ensure financial sustainability in the power sector. Officials expressed optimism that private sector involvement would lead to operational improvements and enhanced service delivery for consumers.
The Privatisation Commission, in coordination with stakeholders, has committed to conducting a transparent and competitive process based on international best practices. The privatisation of these DISCOs is expected to be completed by the end of 2025.
Privatisation Commission Secretary acknowledged the role of the evaluation committee and the Power Division in finalising the agreement, stressing that a whole-of-government approach is essential for the successful execution of the privatisation programme and for attracting private sector investments in the power sector.
