Pakistan's plan to privatise its power distribution companies has entered a decisive phase, with Prime Minister Shehbaz Sharif now imposing a strict one-month deadline for completing institutional reforms at the Privatisation Commission. The directive, issued during a review meeting on Wednesday, signals urgency in a process that has already drawn international interest. Main Developments At the meeting, officials confirmed that roadshows for the first phase of DISCOs privatisation—covering GEPCO, FESCO, and IESCO—have been completed both at home and abroad. Investor engagement in Türkiye, Saudi Arabia, and China has produced encouraging results, according to the briefing. Shehbaz directed that a comprehensive strategy be adopted to ensure world-class investors participate in the sell-off. He stressed that every stage of the privatisation must be completed within the stipulated timeframe, following established rules and best practices, while maintaining profitability. Read also: Pakistan Gold Prices Jump Rs10,000 Per Tola as Global Rates Surge The prime minister also called for strengthening the commission's workforce with international-standard experts in finance, law, and information technology. He urged that recommendations from top-tier consultants be incorporated throughout the process, and that all legal and financial regulatory frameworks be completed promptly. Background The Privatisation Commission has long been tasked with divesting state-owned enterprises, but power distribution has proven particularly challenging due to circular debt, inefficiencies, and political sensitivities. The current push follows years of stalled attempts to reform the sector, with previous governments facing resistance from labour unions and consumers wary of tariff hikes. The selection of GEPCO, FESCO, and IESCO—three of the country's ten distribution companies—marks a targeted approach. These utilities serve relatively stable regions, making them more attractive to private investors than their counterparts in high-loss areas. Why It Matters Privatising DISCOs is central to Pakistan's broader economic stabilisation agenda. Loss-making state utilities drain the national budget, and successful sales could reduce fiscal pressure while improving service delivery. For consumers, the prime minister's emphasis on protecting their interests suggests a balancing act: attracting investors while avoiding politically damaging tariff increases. International investor participation is crucial, as domestic capital alone may not suffice. The encouraging signals from Türkiye, Saudi Arabia, and China could pave the way for foreign direct investment, but the one-month reform timeline adds a sense of urgency that could either accelerate progress or expose bottlenecks. What's Next Over the next month, the Privatisation Commission must implement the reforms and restructuring ordered by the prime minister. This includes hiring international experts and finalising legal and financial frameworks. The commission will also need to incorporate consultant recommendations and ensure that consumer protections are embedded in the transaction structure. Following the reform phase, the actual privatisation of GEPCO, FESCO, and IESCO is expected to proceed in stages, with bidding and finalisation likely to attract close scrutiny from both investors and the public.