Pakistan taps Alvarez & Marsal to privatize three Discos

Consortium includes iConsult, Yousuf Adil Chartered Accountants, Vellani & Vellani, PPI Pvt Ltd, and NEOS Group Inc

By Israr Khan
February 12, 2025
A representational image of a grid station where an electrician is busy working in Hyderabad. — APP/File
A representational image of a grid station where an electrician is busy working in Hyderabad. — APP/File

ISLAMABAD: Pakistan’s Privatisation Commission on Tuesday signed a Financial Advisory Services Agreement (FASA) with a consortium led by M/S Alvarez & Marsal Middle East Limited to facilitate private sector participation in three key power distribution companies.

The consortium includes International Consulting Associates (Pvt) Limited (iConsult), Yousuf Adil Chartered Accountants, Vellani & Vellani, Power Planners International Pvt. Ltd., and NEOS Group Inc. The agreement covers the privatisation of Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO), and Islamabad Electric Supply Company (IESCO), marking a significant step in the government’s broader energy sector reforms.