ISLAMABAD: Pakistan’s Privatisation Commission on Monday said it had received an overwhelming response from both domestic and international investors to the proposed privatisation of Islamabad Electric Supply Company (IESCO).
IESCO is one of three electricity distribution companies included in Discos Batch-I, along with Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO) slated for privatisation.
Three Turkish, seven local investors submit EOIs
In a statement on Monday, the commission said it had received Expressions of Interest (EOIs) from three Turkish and seven local prospective investors seeking to acquire 51% to 100% of the shareholding in IESCO, along with management control.
The Turkish investors are Aktor Elektrik Enerji, Genvera Enerji and Cengiz Enerji, all of which had also expressed interest in the privatisation of Gujranwala Electric Power Company (GEPCO).
IESCO PRIVATISATION RECEIVES STRONG INVESTOR INTEREST
The Privatisation Commission has received 10 Expressions of Interest (EOIs) for IESCO.
Bids from top Turkish energy firms and leading Pakistani business groups received.#IESCO #Privatisation #EOI #PowerSector #Pakistan pic.twitter.com/8AtF7hoeJc
— Ministry of Privatisation, Government of Pakistan (@PrivComPakistan) September 21, 2026
The local investors include Engro Energy; a consortium comprising Artistic Milliners, The Lake City Holdings, Fatima Capital Limited, Din Ventures (Pvt) Limited and Fazal Cloth Mills Limited; and a consortium led by Hubco Power Holding, with Lucky Cement Limited, Kohat Cement Limited and Metro Ventures (Private) Limited as members.
Other Pakistani investors include Sapphire Fibres Limited, Novatex Limited and Bestway Cement Limited, as well as a new consortium comprising Hasnaat Brothers Construction Co. (Pvt) Limited, Dhilal Holding Group, Pak Steel, Bio-Labs (Pvt) Limited and Farid Steel Casting (Pvt) Limited.
Most of the investors have also submitted EOIs for the privatisation of Faisalabad Electric Supply Company (Fesco) and Gujranwala Electric Power Company (Gepco), while a new investor consortium led by Hasnaat Brothers Construction has emerged for IESCO.
Extensive participation
The Privatisation Commission welcomed the extensive participation of investors during the domestic and international roadshows, as well as their confidence in Pakistan’s power-sector reform agenda.
“This is an important milestone in the privatisation of Discos. The strong response received for Iesco reflects that investors have confidence in the potential of Pakistan’s electricity distribution sector and in the Government’s commitment to a transparent, competitive and professionally managed process,” said commission head Muhammad Ali, also the advisor to the prime minister on privatisation.
The commission said it would now engage with the prequalified investors through the due-diligence process and work towards an equitable, transparent and predictable post-privatisation framework.
ALSO READ: Pakistan Opens Power Sector from Centralised Buying to Direct Producer-Consumer Deals
It said the privatisation process aims to improve operational efficiency, modernise distribution infrastructure, enhance customer services and reduce losses, supporting a more financially sustainable power sector and, over time, helping provide consumers with more affordable and reliable electricity.
The EOIs and Statements of Qualification (SOQs) submitted by interested parties will undergo a comprehensive assessment against the approved prequalification criteria. Applicants that meet the prescribed requirements will be prequalified and invited to the next stage, where they will be granted access to the Virtual Data Room (VDR) to conduct detailed due diligence.
Ten interested parties have been prequalified for Fesco, while 11 EOIs were received for Gepco and are currently being evaluated for prequalification.
The commission said it would ensure an open, transparent and competitive privatisation process in the public interest and in support of the government’s broader power-sector reform agenda.
