July 30, 2016 8:09 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 2016.

Islamabad Electric Supply Company Limited Key Developments

Government To Sell Stake In Kot Addu Power

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

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

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.

Similar Private Companies By Industry

Company Name Region
Bright Eagle Enterprises Group Limited Middle East/Africa
Central Power Generation Company Limited Middle East/Africa
Faisalabad Electric Supply Company Limited Middle East/Africa
Fauji Kabirwala Power Company Limited Middle East/Africa
Genertech Pakistan Ltd Middle East/Africa

Recent Private Companies Transactions

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