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August 31, 2015 3:39 AM ET

Electric Utilities

Company Overview of Islamabad Electric Supply Company Limited

Company Overview

Islamabad Electric Supply Company Limited supplies, distributes, and sells electric power. It also offers village electrification, e-complaining, and test report contracting services. Islamabad Electric Supply Company Limited was incorporated in 1998 and is based in Islamabad, Pakistan.

IESCO Head Office Street 40

Sector G-7/4

Islamabad,  44000

Pakistan

Founded in 1998

Phone:

92 51 925 2937

Fax:

92 51 925 2927

Key Executives for Islamabad Electric Supply Company Limited

Chief Executive Officer
Chief Commercial Manager
Deputy Chief Auditor and Company Secretary
Company Secretary and Director
Director General of Administration and Services
Compensation as of Fiscal Year 2015.

Islamabad Electric Supply Company Limited Key Developments

Govt Reportedly Delays Privatization Of Power Distribution Firms

The government has reportedly pushed back its privatization plan for all power distribution companies by almost a year, raising doubts about plans to privatize the loss-making state enterprises, a report in the local media said on July 4, 2015. Against the original plan to sell Faisalabad Electric Supply Company Limited (FESCO) by August 2015, the government has delayed the strategic sale till March 2016, according to a latest report of the International Monetary Fund. The privatization of Lahore Electric Supply Company Limited (LESCO) and Islamabad Electric Supply Company Limited (IESCO) had been planned for October of 2015, but the timeline was first revised to December and now has been delayed for another six months to June next year, showed the report. The proposal of privatising power distribution companies drew the wrath of senators who demanded on August 6, 2015 that it should not be done without taking all the stakeholders into confidence. The issue came under discussion during a debate on a public petition. Senate members simply rejected the proposed privatisation of power distribution companies including Lahore Electric Supply Company, Faisalabad Electric Supply Company and Islamabad Electric Supply Company. Labour union leader Khursheed Ahmed had filed the petition which said: "The proposed privatisation of profitable electricity companies i.e. LESCO, FESCO and IESCO without thrashing out its pros and cons in consultation with the representatives of CBA Union and other stakeholders would possibly lead to increase in electricity prices and eruption of inter-provincial disputes like water distribution." Wrapping up the debate, State Minister for Interior Baleeghur Rehman assured the house that all the stakeholders would be taken on board.

Update on Privatisation Of Pakistan Power Distribution Firms

Pakistan Government is planning to sell stakes in the firms by end of December 2016. The government is looking to divest 18.29% stake in Mari Petroleum Company Limited (KASE:MARI) by end-September 2015, sale of 10-15% shares of Pak Arab Refinery Limited by end December 2015, strategic and asset sale of Northern Power Generation Company Limited by end-December 2015, sale of 40.25% shares of Kot Addu Power Co. Ltd. (KASE:KAPCO) by December 2015, sale of 26% shares of Pakistan International Airlines Corporation (KASE:PIAA) by end December 2015, strategic and asset sale of Faisalabad Electric Supply Company Limited beyond March 2016, strategic and asset sale of Jamshoro Power Company Limited by April 2016, strategic and asset sale of State Life Insurance Corporation of Pakistan Limited by end June 2016, strategic and asset sale of Islamabad Electric Supply Company Limited and Lahore Electric Supply Company Limited by end June 2016.

Government Delays Privatisation Of Power Distribution Firms

The government has pushed back its privatization plan for all power distribution companies by almost a year, raising doubts about plans to privatize the loss-making state enterprises. Against the original plan to sell the Faisalabad Electric Supply Company Limited by August this year, the government has delayed the strategic sale till March next year, according to a latest report of the International Monetary Fund. The privatization of Lahore Electric Supply Company Limited Islamabad Electric Supply Company Limited had been planned for October this year, but the timeline was first revised to December and now has been delayed for another six months to June next year, showed the report.

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To contact Islamabad Electric Supply Company Limited, please visit www.iesco.com.pk. Company data is provided by Capital IQ. Please use this form to report any data issues.

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