The Privatization Commission Board (PCB) has approved the privatisation of electricity distribution companies (DISCOs) and decided to appoint financial advisors.

The board meeting, chaired by Federal Minister for Investment, Communications, and Privatization Abdul Aleem Khan, approved the privatisation, and the legal processes related to privatization are expected to be completed by 2025.

In the first phase, three DISCOs will be privatized.

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Federal Minister Abdul Aleem Khan emphasised the importance of ensuring the transparent and swift privatization of institutions.

He stated that the privatisation of Pakistan International Airlines (PIA) would demonstrate the private sector’s seriousness towards privatisation, stressing that the process is crucial for strengthening and reviving the national economy, with strong prospects for profitability once the institutions are transferred to the private sector.

All privatisation targets are to be achieved on time, with final approval to be given by the Cabinet Committee on Privatization (CCoP).