LESCO MEPCO Move: Pakistan Advances Privatisation Plans
Pakistan is moving ahead with the LESCO MEPCO Privatisation plan as officials expand the government’s reform programme. The Privatisation Commission Board approved key steps for airports and power companies.
Airport Outsourcing Moves Forward
The Privatisation Commission Board approved an EY-Parthenon-led consortium as the top-ranked financial adviser. The consortium will advise on outsourcing Lahore and Karachi international airports.
The decision came during the board’s 257th meeting. Privatisation Commission Chairman Muhammad Ali chaired the meeting.
The board also formed a negotiation committee. The committee will finalise the Financial Advisory Services Agreement with the selected consortium.
Meanwhile, the board declared LESCO and MEPCO major transactions. Both companies now require financial advisers under the commission’s rules.
The commission will start the process of selecting advisers for both firms. LESCO and MEPCO belong to the fourth group of distribution companies targeted for privatisation.
Earlier groups have already entered the privatisation process. Therefore, the latest move expands the government’s wider plan for the power sector.
Pakistan Expands Privatisation Programme
Pakistan has pursued privatisation to reduce pressure on public finances. The government also wants to improve the performance of state-owned companies.
The Privatisation Commission says it will focus on transparent and competitive transactions. In addition, officials aim to protect public interests and maximise value.
The government has already privatised a major stake in Pakistan International Airlines. An Arif Habib-led consortium bought a 75% stake for Rs135 billion last December.
Most of the proceeds will support investment in the airline. Later, Fauji Fertiliser Company joined the consortium and acquired the remaining 25% stake.
The latest LESCO MEPCO Privatisation plan highlights the government’s continued reform push. However, each transaction still requires financial, legal, and regulatory approval.
Officials expect the programme to reduce the state’s financial burden. They also hope private management can improve service delivery and efficiency.
The success of these deals will depend on transparency and fair valuation. Public confidence will also remain important throughout the process.
