Discos on auction block; three companies told to log assets

Official says CEOs of three major Discos have been formally instructed to update and maintain asset registers

By Israr Khan
January 31, 2025
An electricity pylon along Albanias 400 kV power line with Montenegro is pictured in Vau Dejes, near the city of Shkoder April 9, 2014. — Reuters
An electricity pylon along Albania's 400 kV power line with Montenegro is pictured in Vau Dejes, near the city of Shkoder April 9, 2014. — Reuters

ISLAMABAD: As part of the first phase of privatising electricity distribution companies (Discos), the Power Division has directed the companies to maintain detailed record of movable and immovable assets.

The CEOs of three major Discos —Islamabad Electric Supply Company (Iesco), Faisalabad Electric Supply Company (Fesco), and Gujranwala Electric Power Company (Gepco)—have been formally instructed to update and maintain asset registers, an official said.

This directive is part of the government’s broader efforts to prepare the companies for privatisation. Under the instructions, asset registers must be updated regularly, with a 15-day deadline for revisions or additions. This measure aims to ensure accuracy and reflect the current status of the companies’ holdings.

Financial advisers will be appointed soon to conduct an in-depth valuation of the assets, a critical step in determining the fair market value of the Discos. The Power Division has also mandated Discos to submit compliance reports on the implementation of these directives.