Pakistan, May 19 -- The government has invited investors to submit bids for the privatization of three major electricity distribution companies as part of efforts to reform Pakistan power sector and reduce mounting circular debt.

According to official documents, the government plans to sell 51 to 100 per cent shares in Faisalabad Electric Supply Company (FESCO), Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO).

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The privatization process will also transfer administrative control of these companies to successful private investors.

Officials have announced separate deadlines for submission of Expressions of Interest (EoIs). The fi...