ISLAMABAD: The Privatisation Commission has appointed financial advisers to facilitate divesting Faisalabad, Gujranwala and Islamabad power distribution companies by the end of 2025.

The commission signed Financial Advisory Services Agreement (FASA) on Tuesday with the consortium led by Alvarez & Marsal Middle East Ltd and including International Consulting Associates (Pvt) Ltd (iConsult), Yousuf Adil Chartered Accountants, Vellani & Vellani, Power Planners International Pvt Ltd and NEOS Group Inc marking a significant step towards private sector participation in three key Distribution Companies (Ddiscos), Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO).

The appointment of financial advisers was a `strategic initiative` that aligns with the government`s commitment to improving efficiency, reducing losses, and ensuring long-term sustainability in the power distribution sector.-Reporter