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 2014.
Islamabad Electric Supply Company Limited Key Developments
Government Plans To Privatize IESCO, FESCO, KEPCO and PESCO
May 22 15
Federal Government is planning to privatize Peshawar Electric Supply Company Limited (PESCO), Korea Electric Power Corp. (KOSE:A015760), Faisalabad Electric Supply Company Limited and Islamabad Electric Supply Company Limited.
Pakistan Provides Privatization Plans & Will Finalize NPCC Offer By May, IMF Assured
Apr 17 15
The government is planning to privatize National Power Construction Corporation (Pvt) Limited (NPCC) by the end of May 2015 after the privatization of three entities within ongoing fiscal year. The privatization of NPCC could generate two billion rupees, according to certain sources. According to the Memorandum of Economic and Financial Policies, government appointed financial advisors for Northern Power Generation Company Limited and expect to complete the transaction by end-October 2015. The three other entities which will be privatized by the end of the year are Faisalabad Electric Supply Company Limited, Islamabad Electric Supply Company Limited and Lahore Electric Supply Company Limited. With respect to Pakistan International Airlines, Pakistan stated to IMF, "We have appointed financial advisors in July 2014 (structural benchmark) to seek potential options for restructuring and strategic private sector participation in the core airline business by end-December 2015 (structural benchmark). The diligence process will be completed by end-March 2015. Plans for private participation will be developed thereafter." The government of Pakistan also shed light on the plans for Pakistan Steel Mills Corporation (PVT) LTD. by saying, "We have appointed a professional board and a new chief executive officer and approved a comprehensive restructuring plan to prepare for potential strategic private sector participation in the company. Operational efficiency has begun to improve and capacity utilization has already climbed from 18 to 40 percent. In January 2015, we advertised for appointment of financial advisors, however, it was disqualified during the evaluation process. We have re-advertised on February 15, 2015 and expect to complete the appointment of financial advisors by end March 2015 so that the due diligence process can be initiated".
Pakistan Government Mulls Privatization Of Major Utility Companies
Jan 24 15
Government of Pakistan is seeking to sell its stake in its major utility companies. The Privatization Commission has initiated sell-off process of Hyderabad Electric Supply Company Ltd. (Hesco) as part of a comprehensive reform and restructuring programme of the power sector. The commission on January 23, 2015, issued the expression of interest (EoI) for engaging the services of a reputable financial advisory consortium for this transaction. The deadline for the submission of technical and financial proposal is February 27, 2015. The divestment of 100% strategic asset of Faisalabad Electric Supply Company Limited (Fesco) will be completed by August 31 this year and I Islamabad Electric Supply Company Limited (Iesco) and Lahore Electric Supply Company (Lesco) by October 31, 2015. The government to complete the capital market transaction for selling its 100% stake in Habib Bank Limited (KASE:HBL) by April 30 this year.
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