Islamabad, August 8, 2026: Deputy Prime Minister and Foreign Minister Senator Mohammad Ishaq Dar on Saturday chaired a meeting of the Cabinet Committee on Privatisation (CCoP) and directed authorities to accelerate the process of privatising three major power distribution companies.
The meeting, held shortly after Dar returned to Islamabad from Saudi Arabia, where he had accompanied Prime Minister Muhammad Shehbaz Sharif, reviewed progress on the proposed privatisation of the Islamabad Electric Supply Company (IESCO), Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO).
The committee directed the Privatisation Commission to complete its consultation process with the Power Division by early next week to enable the CCoP to take a decision on the way forward.
The meeting also considered proposals to include additional entities in the government’s privatisation programme and approved recommendations of the Privatisation Division with certain modifications.
The budget of the Privatisation Commission was also presented before the committee and approved with amendments.
The CCoP reviewed the annual privatisation programme and discussed the government’s future strategy for advancing the process. Dar directed the Privatisation Commission to expedite implementation and maintain momentum on the planned transactions.
The Deputy Prime Minister and Foreign Minister instructed all relevant authorities to ensure coordinated and timely action, emphasizing the need to accelerate privatisation as part of the government’s broader structural reform agenda.
He said efforts should focus on improving institutional efficiency, strengthening economic management and maintaining progress on reforms aimed at enhancing the performance of public-sector entities.
The meeting was attended by the Minister for Power, Adviser to the Prime Minister on Privatisation, SAPM Tariq Bajwa, Secretary Power, Secretary Privatisation Division, Secretary Commerce, Secretary Cabinet and Special Secretary Industries and Production.
Senior officials from the Ministries of Defence and Finance, Federal Board of Revenue (FBR), Securities and Exchange Commission of Pakistan (SECP) and State Bank of Pakistan (SBP) also participated in the meeting.
