FESCO Privatisation: 12 Local and Foreign Groups, Including Turkish and Chinese Investors, Enter Race
FAISALABAD: As many as 12 local and international investor groups have expressed interest in acquiring a stake in the Faisalabad Electric Supply Company (FESCO), marking a major development in the government’s privatisation programme.
According to Express News, major business groups from Türkiye, China and Pakistan have entered the race to acquire between 51% and 100% of FESCO’s shares.
The Privatisation Commission has received 12 Expressions of Interest (EOIs) for the acquisition and described the development as an important milestone in the privatisation process.
The commission said pre-qualified investors would be provided access to a virtual data room to conduct due diligence on FESCO.
Meanwhile, the privatisation process for other power distribution companies, including Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO), is also underway.
