LESCO, MEPCO and 2 International Airports to go Private Soon

The government has moved forward with the privatization of Lahore Electric Supply Company (LESCO) and Multan Electric Power Company (MEPCO), while also advancing plans to outsource operations at Lahore and Karachi airports.

The Privatization Commission Board approved the appointment of an EY Parthenon-led consortium as the top ranked bidder for financial advisory services related to outsourcing Allama Iqbal International Airport in Lahore and Jinnah International Airport in Karachi.

The board also formed a Negotiation Committee to finalize the Financial Advisory Services Agreement with the selected consortium, according to a statement issued after its 257th meeting on August 11.

For LESCO and MEPCO, the board declared both transactions as major privatization deals, triggering the appointment process for financial advisers. The Privatization Commission will now begin the process of selecting advisers for the two power distribution companies.

LESCO and MEPCO are the fourth batch of distribution companies identified for privatization by the government. The privatization process for three earlier batches of power distribution companies is already underway.

The board said the latest decisions were part of the government’s broader privatisation program and stressed that the transactions would be carried out through transparent and competitive processes, with a focus on accountability and maximizing value for the government and the public. The decisions were taken under the chairmanship of Muhammad Ali, Adviser to the Prime Minister on Privatization and chairman of the Privatization Commission.

The government has moved forward with the privatization of Lahore Electric Supply Company and Multan Electric Power Company, while also advancing plans to outsource operations at Lahore and Karachi airports.

The Privatization Commission Board approved the appointment of an EY Parthenon led consortium as the top ranked bidder for financial advisory services related to outsourcing Allama Iqbal International Airport in Lahore and Jinnah International Airport in Karachi.

The board also formed a Negotiation Committee to finalize the Financial Advisory Services Agreement with the selected consortium, according to a statement issued after its 257th meeting on August 11.

For LESCO and MEPCO, the board declared both transactions as major privatization deals, triggering the appointment process for financial advisers. The Privatization Commission will now begin the process of selecting advisers for the two power distribution companies.

LESCO and MEPCO are the fourth batch of distribution companies identified for privatization by the government. The privatization process for three earlier batches of power distribution companies is already underway.

The board said the latest decisions were part of the government’s broader privatization program and stressed that the transactions would be carried out through transparent and competitive processes, with a focus on accountability and maximizing value for the government and the public.

The decisions were taken under the chairmanship of Muhammad Ali, Adviser to the Prime Minister on Privatization and chairman of the Privatization Commission.

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