Privatisation of FESCO: PC approves 10 out of 12 parties

ISLAMABAD: The Privatisation Commission (PC) Board has approved ten of the twelve interested parties that submitted Expressions of Interest (EOIs) for the privatisation of Faisalabad Electric Supply Company (FESCO). In its 258th meeting held here on Friday, the PC Board approved the prequalification of Interested Parties for the privatisation of FESCO. The meeting was chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission. The Board was informed that 12 Expressions of Interest (EOIs) had been received for FESCO. Following evaluation of the submissions against the approved prequalification criteria, the Financial Adviser recommended 10 Interested Parties (IPs) for prequalification and progression to the next stage of the transaction. The Board approved the following pre-qualified interested parties for FESCO’s privatisation: i. Aktor Elektrik Enerji Yatirimlari San. Ve Tic. A. S. , ii. Genvera Enerji A. S. , iii. Cengiz Enerji Sanayii VeTicaret A. S. , iv. Engro Energy Limited, v. Sapphire Fibres Limited, vi. Hub Power Holdings Consortium (Lucky Cement, Kohat Cement and Metro Ventures), vii. Shirazi Investments (Pvt) Limited, viii. Maple Leaf Cement Factory Limited Consortium (Kohinoor Textile Mills), ix. Pakgen Limited Consortium (Nishat Mills, Nishat Power, Nishat Chunian, Lalpir, Pak Elektron and Kohinoor Energy), x. Artistic Milliners (Pvt) Limited. The pre-qualified parties will now proceed to the next stage of the transaction in accordance with the approved process, including access to the Virtual Data Room (VDR) for detailed buy-side due diligence. The Board also approved the reconstitution of its audit and risk, human resources, investment, and legal committees. Copyright Business Recorder, 2026

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