LESCO, MEPCO privatisation on the cards

The federal government has formally begun preparations to privatise major electricity distribution companies, including the Lahore Electric Supply Company (LESCO) and the Multan Electric Power Company (MEPCO), according to official documents obtained by Express News.

Privatisation Process Underway

The Privatisation Commission has requested the Power Division to provide detailed information on both companies as part of the ongoing process. In response, MEPCO’s management has already begun streamlining its balance sheets and off-balance-sheet records to align with the requirements.

Sources confirmed that the commission has specifically asked for the latest financial audit reports for MEPCO, with officials noting that the audit process is now in its final stages.

Asset and Property Details

The commission has also demanded a complete record of immovable properties owned by the distribution companies listed in “Batch Two.” This includes:

• Legal status of properties
• Revenue records
• Ownership details

Additionally, the Power Division has been instructed to submit a full inventory of assets, their valuation, and information related to company shares and property title transfers, which are reportedly already in progress.

Employee and Pensioner Records

As part of the privatisation process, the Privatisation Commission has sought comprehensive data on employees and pensioners, including:

• The total number of regular, contractual, and daily-wage employees
• Rules and regulations governing staff
• Total number of retirees and details of outstanding dues

Liabilities and Receivables

The commission has further requested detailed information regarding each company’s liabilities as well as the receivables due from consumers and other stakeholders.

Official documents also highlight that the transfer of company shares and property titles for the concerned distribution companies has already been initiated by the Power Division.