Company Overview of Islamabad Electric Supply Company Limited
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
Founded in 1998
Key Executives for Islamabad Electric Supply Company Limited
Deputy Chief Auditor and Company Secretary
Company Secretary and Director
Director General of Administration and Services
Compensation as of Fiscal Year 2016.
Islamabad Electric Supply Company Limited Key Developments
Government To Sell Stake In Kot Addu Power
Jul 21 16
Nawaz Sharif, Prime Minister, Pakistan has put the planned strategic sale of power distribution and generation companies to a halt and now shares of these companies will be floated on the stock exchange. The Privatization Division proposed that the process should be initiated for the listing of shares of qualified power distribution companies through an IPO on the stock exchange where it was found applicable and feasible. Senate panel defers voting on Heavy Electrical Complex (Pvt.) Ltd sell-off report. Consequently, the cabinet body directed the Privatisation Division to start the process of floating shares of
the Faisalabad Electric Supply Company and Islamabad Electric Supply Company in the first phase in order to ensure larger participation of the general public. It also decided that the government would keep control and management of the power companies. Moreover, all existing boards of the companies would continue to function.
Pakistan Scales Back Planned Privatization Transactions
Jul 10 16
The government has developed a plan to sequence the capital market and pre-privatization restructuring for ten companies, Oil and Gas Development Co., Ltd. (KASE:OGDC), Pakistan Petroleum Ltd. (KASE:PPL), Mari Petroleum Company Ltd (KASE:MARI), Government Holdings (Private) Limited, Habib Bank Limited (KASE:HBL), United Bank Ltd. (KASE:UBL), Allied Bank Limited (KASE:ABL), National Bank Limited (KASE:NBP), State Life Insurance Corporation of Pakistan Limited for block sales and primary or secondary public offerings. the government revisited its plans for privatising Faisalabad Electric Supply Company Limited and other DISCOs and decided to move ahead with an Initial Public Offering (IPO) for a minority share in FESCO by November, 2016 to be followed by Islamabad Electric Supply Company Limited and Lahore Electric Supply Company Limited. The government also committed to disinvesting Kot Addu Power Co. Ltd. (KASE:KAPCO), a large power generation company, and to solicit expressions of interest by July 15, 2016 (new structural benchmark in lieu of completing the bidding process for FESCO by June, 2016. SLIC bill was subsequently approved by the National Assembly in May, 2016. The government will conduct the Initial Public Offering of SLIC by end-March, 2017 and will offer the first option for the government's shares in Mari Petroleum Company Limited (MPCL) to the parties who have been MPCL's other shareholders since incorporation, aiming at finalising this process by end-August, 2016.
Privatization Of Public Entities On Halt
May 5 16
The government of Pakistan has put on hold privatization of ailing public sector entities due to political opposition and labour unrest. The privatization of Pakistan International Airlines Corporation (KASE:PIAA) (PIA), Pakistan Steel Mills (PSM), Faisalabad Electric Supply Company Limited, Lahore Electric Supply Company Limited and Islamabad Electric Supply Company Limited could not materialized on time, as had been committed with International Monetary Fund. Sources in the Ministry of Finance said that the privatization of public sector entities like PIA and PSM would make progress in the next financial year. Meanwhile, privatization of Northern Power Generation Company Limited, Jamshoro Power Company Limited, Lakhra Power Generation Company Limited and Central Power Generation Company Limited, Kot Addu Power Co. Ltd. (KASE:KAPCO) and SME Bank Ltd. are in the pipeline.
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