The government is moving forward with the privatisation of all ten DISCOs (electricity distribution companies), citing inefficiency and financial losses as key reasons. However, Iesco (Islamabad Electric Supply Company) presents a contrasting case, currently showing a surplus of millions of rupees. According to an advertisement in national pages of The News International on October 5, Iesco issued a proposal for investment of Rs1,696 million.
This raises an important question: why privatise a company that is operating profitably and has such significant surplus funds? It is also puzzling why, at a time when the divestment of Iesco is at an advanced stage, the company is opting to invest such a large sum. Privatisation under these circumstances could potentially lead to a scandal at any point in the process.
Hussain Siddiqui
Islamabad
