Nishat Group consortium joins race for FESCO privatisation

A consortium comprising several Nishat Group companies has entered the race for the privatisation of Faisalabad Electric Supply Company (FESCO).

The development was disclosed by Nishat Chunian Power Limited (NCPL) in a notice to the Pakistan Stock Exchange (PSX) on Thursday.

“Nishat Chunian Power Limited obtained the Request for Statement of Qualification as amended or supplemented from time to time (RSOQ) issued by the Privatisation Commission, for the divestment of FESCO through privatisation and the Board of Directors of the company approved participation in the consortium,” read the notice.

The consortium comprises Nishat Chunian Power Limited, Pakgen Limited, Lalpir Limited, Nishat Power Limited, Nishat Mills Limited, Kohinoor Energy Limited and Pak Elektron Limited.

Under the arrangement, the consortium members have appointed Pakgen Limited as the lead consortium member, authorising it to conduct all business and represent the consortium throughout the privatisation process.

NCPL clarified that it “has not assumed any binding obligation in respect of the transaction, which remains subject to pre-qualification by the Privatisation Commission and to all requisite corporate and regulatory approvals”.

Faisalabad Electric Supply Company (FESCO) is among the electricity Distribution Companies (DISCOs) slated for privatisation by the Pakistani government as part of a broader energy sector reform agenda aimed at improving efficiency, reducing losses, and attracting private investment.

Three DISCOs move closer to privatisation as PC Board approves restructuring

FESCO is included in the first phase of the government’s outright privatisation plan, alongside Islamabad Electric Supply Company (IESCO) and Gujranwala Electric Power Company (GEPCO). The Cabinet initially approved the outright privatisation of these three DISCOs in August 2024.

Last month, the deadline for EOI submission for FESCO was revised to August 7, 2026.