- Power Minister Awais Leghari says bids would be invited soon.
- Govt prepares to open first three Discos to private investment.
- Pakistan, Turkiye agree to deepen cooperation in oil and gas.
Pakistan is seeking experienced international private investors, particularly from Turkiye, to take part in the upcoming privatisation of its power distribution companies.
Power Minister Sardar Awais Ahmed Khan Leghari said bids would be invited soon as the government prepares to open the first three distribution companies (Discos) to private investment, The News reported on Wednesday.
He made the remarks after a meeting with Turkiye’s Minister for Energy and Natural Resources, Alparslan Bayraktar.
Leghari said the participation of Turkiye’s companies, with their vast experience, was considered very important. An Expression of Interest (EOI) for the first three of Discos’ privatisation (Iesco, Fesco and Gepco) is ready to be issued, he said.
The minister lauded Turkiye’s largely private-sector-driven power market and appreciated the Turkish government for facilitating study visits by Pakistani power sector experts.
He said Pakistan aimed to replicate elements of the Turkish model, especially the concessional frameworks that helped attract private investment. He said the Power Division was working on an Integrated Energy Plan and wanted Turkiye’s technical assistance in shaping it, citing Ankara’s successful planning experience.
Bayraktar welcomed Pakistan’s reform push and said Turkish investors were “keenly following” the Discos’ privatisation process. He expressed hope for “reasonable participation” by Turkish companies once bidding begins.
Both sides agreed to organise investment roadshows in Türkiye to attract potential bidders. Bayraktar noted that Türkiye was already a major investor in Pakistan, particularly in mining, a sector closely linked with energy development, and described Pakistan’s power market as very important for Turkish businesses.
In a related development, Pakistan and Turkiye agreed to deepen cooperation in oil and gas, energy infrastructure and mining, as Turkish Petroleum announced it would open an office in Islamabad this month, officials said.
The agreement was reached during talks between Federal Minister for Petroleum Ali Pervaiz Malik and Turkiye’s Minister for Energy and Natural Resources Alparslan Bayraktar, who led a high-level delegation including senior officials from Turkish Petroleum Corporation (TPAO).
Managing Directors of Mari Energies, OGDCL and PPL briefed the meeting on their projects, including OGDCL’s work at Reko Diq, its shale gas pilot and tight gas initiatives, and invited Turkish firms to join as technology and joint-venture partners.
Bayraktar said this was his third visit to Pakistan in a short span and that he had returned with “the first tangible, solid projects” for cooperation. He said Turkiye planned new joint ventures in oil and gas exploration, energy infrastructure and mining to help achieve the shared $5 billion bilateral trade target.
Referring to the Pakistan Minerals Investment Conference, Bayraktar said Pakistan’s mineral potential had impressed Turkish investors and confirmed that a Turkish mining company was exploring entry into the sector.
Both sides decided that Turkish Petroleum would open its Islamabad office this month with 10 Turkish nationals and local staff. They also agreed to explore forming a joint petroleum trading company and to enhance investment facilitation and project-level cooperation.
In another development, Turkish Petroleum Overseas Company (TPOC) signed five petroleum concession agreements (PCAs) with Pakistan, including three offshore and two onshore blocks.
The agreements, expected to bring in a total investment of $300 million, formally mark TPOC’s entry into Pakistan’s oil and gas exploration sector alongside the country’s leading exploration and production companies.
The signing ceremony was held at the Prime Minister’s Office in the presence of Prime Minister Shehbaz Sharif and Turkish Minister of Energy and Natural Resources Alparslan Bayraktar. Senior officials from the petroleum and power ministries also attended.
