The Privatisation Commission has received strong interest from local and international investors for the proposed privatisation of Islamabad Electric Supply Company (Iesco).
The commission said on Monday that 10 potential investors had submitted expressions of interest (EOIs) to acquire between 51% and 100% of Iesco’s shares, along with management control.
Three of the interested parties are Turkish companies. They include Aktor Elektrik Enerji, Genvera Enerji and Cengiz Enerji.
Several Pakistani companies and investor groups have also expressed interest in the power distribution company. These include Engro Energy, Sapphire Fibres, Novatex, Bestway Cement and other business groups.
A consortium led by Hubco Power Holding has also shown interest. Lucky Cement, Kohat Cement and Metro Ventures are part of the group.
Another consortium includes Artistic Milliners, Lake City Holdings, Fatima Capital, Din Ventures and Fazal Cloth Mills.
A newly formed consortium led by Hasnaat Brothers Construction has also submitted an expression of interest. The group includes Dhilal Holding Group, Pak Steel, Bio-Labs and Farid Steel Casting.
Many of the investors interested in Iesco have also submitted bids for the proposed privatisation of Faisalabad Electric Supply Company (Fesco) and Gujranwala Electric Power Company (Gepco).
Iesco, Fesco and Gepco are part of the first batch of electricity distribution companies being considered for privatisation.
Privatisation Commission head Muhammad Ali said the response from investors showed confidence in Pakistan’s power distribution sector and the government’s reform plans.
He said the strong participation marked an important step in the privatisation process. He added that the government was committed to keeping the process transparent and competitive.
The commission will now assess the EOIs and statements of qualification submitted by the interested parties. Applications will be reviewed against the approved prequalification criteria.
Investors that meet the requirements will move to the next stage. They will receive access to a Virtual Data Room to conduct detailed due diligence before the transaction progresses further.
The government aims to improve the efficiency of electricity distribution companies through the privatisation programme. The plan also focuses on upgrading infrastructure, improving customer services and reducing power-sector losses.
Officials said the reforms are expected to help create a more financially sustainable electricity distribution system and improve the reliability of power supplies over time.
For Fesco, 10 interested parties have already been prequalified. Meanwhile, 11 expressions of interest for Gepco are currently being evaluated.
