FESCO privatisation: Turkiye, China, Pakistan firms eye stake
- Three companies from Türkiye, one from China, and eight from Pakistan submit Expressions of Interest (EOIs) for privatisation of Faisalabad Electric Supply Company
The Privatisation Commission has received 12 Expressions of Interest from local and foreign investors for a majority stake in FESCO, advancing the government's plan to privatise power distribution companies.
- Local and international investors for FESCO.
- Government's broader power sector privatization program.
- Proposed controlling stake and management control in FESCO.
The Privatisation Commission (PC) has received 12 Expressions of Interest (EOIs) from local and foreign investors for the acquisition of a majority stake in the Faisalabad Electric Supply Company (FESCO), advancing the government’s plan to privatise power distribution companies.
According to a statement from Finance minister’s advisor Khurram Schehzad on Friday, the EOIs were submitted on the closing date for applications from prospective investors seeking to acquire between 51% and 100% shareholding in the FESCO, along with management control.
The interested parties include three companies from Turkiye, one from China and eight from Pakistan.
The Turkish firms are Aktor Elektrik Enerji Yatırımları San. ve Tic. A.Ş., Genvera Enerji A.Ş. (Celik Group) and Cengiz Enerji Sanayii ve Ticaret A.Ş., while China’s Jiang Xi Electric Power Construction also submitted an EOI.
The Pakistani investors comprise Engro Energy Limited, Sapphire Fibres Limited, Hub Power Holdings in consortium with Lucky Cement, Shirazi Investments (Atlas Group), Maple Leaf Cement in consortium with Kohinoor Textile, Nishat Mills Limited in consortium with Pak Elektron Ltd. (PEL), Artistic Milliners (Private) Limited, and K-Electric Limited.
The proposed transaction involves the sale of a controlling stake of 51% to 100% in the FESCO together with management control, as part of the federal government’s broader privatisation programme aimed at improving the performance and efficiency of state-owned enterprises.
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