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The boards of all DISCOs have been reconstituted, except for Sepco and Hesco, where the process is being finalised. The boards are structured to ensure enhanced corporate governance, strategic oversight and operational efficiency. photo: file
ISLAMABAD:
The Privatisation Commission on Thursday signed a financial advisory services agreement with Raiffeisen Investment for the privatisation of two electricity distribution companies — Hyderabad Electric Supply Company (Hesco) and Sukkur Electric Power Company (Sepco).
Raiffeisen Investment was a top-ranked adviser selected through a competitive process from among the financial advisory firms that participated in bidding, said a statement.
The signing marks the conclusion of the appointment process for the second batch of distribution companies (DISCOs) slated for privatisation.
Under the agreement, Raiffeisen Investment will undertake a comprehensive sell-side due diligence, conduct market sounding and engage with potential investors. It will support the Privatisation Commission in structuring and marketing the transactions and in conducting a transparent and competitive bidding process, in line with the government’s privatisation framework and applicable rules. The privatisation of the first batch of DISCOs, namely Islamabad Electric Supply Company, Gujranwala Electric Power Company and Faisalabad Electric Supply Company, is already underway.