Prime Minister Shehbaz Sharif on Monday directed authorities to accelerate the privatisation of electricity distribution and generation companies, calling it essential for long-term power sector stability.

Chairing a review meeting on power sector reforms in Islamabad, the prime minister said a competitive electricity market, driven by privatisation, was the only sustainable solution to the country’s energy challenges.

He ordered priority completion of projects aimed at upgrading the electricity transmission system. The prime minister also directed officials to initiate the Battery Energy Storage System through public-private partnerships, with strong private sector participation, to modernise the power network.

Officials briefed the meeting on progress in power generation, transmission, and the privatisation of DISCOs and GENCOs, along with other reform measures.

The meeting was told that steps were underway to privatise three distribution companies — IESCO, FESCO and GEPCO — with Expressions of Interest to be issued shortly.

Participants were informed that the PC-1 for the 500 kV Ghazi Barotha–Faisalabad transmission line was in the approval stage, aimed at strengthening the national grid.

The meeting was also briefed that technical feasibility for converting power plants from imported coal to Thar coal had been completed, while work on a railway line to transport Thar coal was in progress.

Officials said line losses had declined compared to last year due to sustained reform efforts. The concept clearance for the Battery Energy Storage System project has been approved, and a feasibility study is currently underway.