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June 30, 2015 10:52 PM 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 2014.

Islamabad Electric Supply Company Limited Key Developments

Update On Stake Sale In Pakistan Government Owned Firms; Sale Likely In 6-8 Months

Pakistan Government is planning to sell stakes in the firms. The government is looking to divest stakes in Northern Power Generation Company Limited, Faisalabad Electric Supply Company Limited, Islamabad Electric Supply Company Limited, Lahore Electric Supply Company Limited and Convention Center Islamabad in next six to eight months. The government has estimated in the budget to generate PKR 50 billion from the ongoing privatization of entities in the financial year. An official stated, “The amount generated from privatization could increase, as government kept amount at lowest side.” The government is also working on possible privatization of National Power Construction Corporation (Pvt) Limited by the end of current fiscal year 2014 - 2015 that might generate PKR 2 billion. Regarding privatization of Pakistan International Airlines Corporation (KASE:PIAA), Pakistan stated to IMF, “We have appointed financial advisors in July 2014 to seek potential options for restructuring and strategic private sector participation in the core airline business by end-December 2015. Plans for private participation will be developed thereafter.”

Government Plans To Privatize IESCO, FESCO, KEPCO and PESCO

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

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".

Similar Private Companies By Industry

Company Name Region
Faisalabad Electric Supply Company Limited Middle East/Africa
Multan Electric Power Co., Ltd. Middle East/Africa
Saba Power Company (Private) Limited Middle East/Africa
Lahore Electric Supply Company Limited Middle East/Africa
KES Power Limited Middle East/Africa

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