Pakistan's FESCO privatisation attracts Turkish, Chinese and local investors

The Privatisation Commission of Pakistan received twelve expressions of interest for the sale of 51% to 100% of the Faisalabad Electric Supply Company (FESCO). The bidders include three Turkish firms – Aktor Elektrik Enerji Yatırımları San. ve Tic. A.Ş., Genvera Enerji A.Ş. (Celik Group) and Cengiz Enerji Sanayii ve Ticaret A.Ş. – one Chinese company, Jiang Xi Electric Power Construction, and eight Pakistani business groups such as Engro Energy Limited, Sapphire Fibers Limited, a Hub Power Holdings‑Lucky Cement consortium, Shirazi Investments (Atlas Group), Maple Leaf Cement‑Kohinoor Textile, Nishat Mills Limited, Pak Elektron Ltd., Artistic Milliners (Private) Limited and K‑Electric Limited.

Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, said, “This is an important milestone in the privatisation of DISCOs. The strong response to FESCO reflects investor confidence in the potential of Pakistan’s electricity distribution sector and in the government’s commitment to a transparent, competitive and professionally managed process.” The privatisation aims to improve operational efficiency, modernise distribution infrastructure, reduce losses and create a financially sustainable power sector. FESCO is one of three distribution companies in the first batch of privatisations, alongside Gujranwala and Islamabad electric utilities.