Govt plans to divest 51-100% stakes in Discos with management control, NA panel told

According to Profit by Pakistan Today, citing Business Recorder, the government plans to sell between 51% and 100% of each power distribution company along with management control. A National Assembly panel chaired by Farooq Sattar heard this on Thursday. Officials said Alvarez & Marsal finished due diligence, after which the Privatisation Commission Board and the Cabinet Committee on Privatisation approved the restructuring plan and transaction structure.

Ten parties have been pre-qualified for FESCO, while 11 expressions of interest and qualification statements for GEPCO are being evaluated. The IESCO process concluded on September 7, 2026. Lawmakers urged a transparent, competitive sale with proper valuations and reserve prices, plus oversight by Nepra after the transfer and regular financial and performance audits.

Separately, the committee heard the winning bidder for 75% of Pakistan International Airlines plans to exercise its call option on the remaining 25%. The Arif Habib-led consortium made the top bid of Rs135 billion, well above the Rs100 billion reference price, and management control shifted after the first completion on June 29. Officials put Postal Life Insurance liabilities up to June 2026 at Rs15.5 billion across about 55,450 claims, with only Rs3 billion released against an extra Rs8.455 billion requirement. The committee asked authorities to weigh extra funding through a December 2026 supplementary grant, aimed at clearing as many claims as possible, especially those of vulnerable policyholders.