PID

PR No. 124
Signing of Financial Advisory Services Agreement
Islamabad: February 11, 2025

The Privatisation Commission has signed a Financial Advisory Services Agreement (FASA) on Tuesday 11th February, 2025 with the Consortium led by M/S Alvarez & Marsal Middle East Limited and including International Consulting Associates (Pvt) Limited (iConsult), Yousuf Adil Chartered Accountants, Vellani & Vellani, Power Planners International Pvt. Ltd. and NEOS Group Inc. marking a significant step towards private sector participation in three key Distribution Companies (DISCOs), Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO). The ceremony was attended by Senior Officials of the Privatisation Commission and A&M Consortium. This strategic initiative aligns with the Government’s commitment to improving efficiency, reducing losses, and ensuring long-term sustainability in the power distribution sector. Under the agreement, the A&M Consortium will provide expert financial advisory services to facilitate private sector investment in FESCO, GEPCO and IESCO. The consortium will conduct due diligence, carry out market sounding and investor outreach, develop transaction structures, recommend sequencing of the transactions and assist in the bidding process to attract credible private sector investor interest in privatisation of the three DISCOs. The participation of the private sector in DISCOs is expected to bring operational improvements, better service quality for consumers and a more financially sustainable electricity distribution framework. The Privatisation Commission, in collaboration with all relevant stakeholders, will ensure a transparent and competitive process in line with best international practices. Secretary Privatisation Commission thanked all the stake holders including the evaluation committee members and Power Division for their contributions during the procurement process. He emphasized the need for a whole of Government approach in successful implementation of the Privatisation Programme and attracting private sector investments. The privatization of Batch-1 of DISCOs is expected to be completed by end of year 2025.

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PR No. 124 Signing of Financial Advisory Services Agreement Islamabad: February 11, 2025

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PR No. 124
Signing of Financial Advisory Services Agreement
Islamabad: February 11, 2025