Pakistan’s Privatization Commission (PC) said on Friday it has received a strong response from both domestic and international investors for the sale of Faisalabad Electric Supply Company (Fesco), with 12 expressions of interest (EOIs) submitted by parties seeking to acquire between 51 and 100 percent of the utility along with management control.
Key Highlights:
- Twelve EOIs received for Fesco privatization from Turkish, Chinese and Pakistani investors
- Bidders include Engro Energy, Hub Power Holdings, Lucky Cement and K-Electric
- PC chairman Muhammad Ali calls it “an important milestone” in Disco privatization
- Fesco is one of three Discos, alongside Gepco and Iesco, in Batch-I privatization
- EOI deadlines for Gepco and Iesco set for August 21 and September 7
FESCO’s proposed sale has drawn interest from 12 investors, including groups from Pakistan, China and Türkiye, as the government advances its power distribution privatisation plan. 🧵 pic.twitter.com/T9QIQBllfY
— ProPakistani (@ProPakistaniPK) August 7, 2026
A Mix of Local and Foreign Interest
Of the 12 EOIs submitted, three came from Turkish investors: Aktor Elektrik Enerji Yatırımları San. ve Tic. A.Ş., Genvera Enerji A.Ş. (part of the Celik Group), and Cengiz Enerji Sanayii ve Ticaret A.Ş. One bid came from China’s Jiang Xi Electric Power Construction. The remaining eight came from Pakistani groups, among them Engro Energy Limited, Sapphire Fibers Limited, Hub Power Holdings, Lucky Cement, Shirazi Investments (Atlas Group), Maple Leaf Cement and Kohinoor Textile, Nishat Mills Limited and Pak Elektron Ltd, along with Artistic Milliners and K-Electric Limited, a lineup that spans energy, textiles, cement and financial groups alike.
The Privatization Commission said it welcomed the interest shown by these business groups in entering the power distribution sector, crediting the response in part to extensive investor engagement during domestic and international roadshows held over the past six months.
Officials Frame Response as a Vote of Confidence
“This is an important milestone in the privatization of Discos,” said Muhammad Ali, PC chairman and adviser to the prime minister on privatization. He said the response to Fesco reflects investor confidence in the potential of Pakistan’s electricity distribution sector and in the government’s commitment to running a transparent, competitive and professionally managed process. He added that the commission looks forward to engaging with the prequalified investors through due diligence and discussing what the post-privatization regime will look like.
According to Ali, privatizing the Discos is expected to improve operational efficiency, modernize distribution infrastructure, strengthen customer service, and reduce losses, ultimately supporting a more financially sustainable power sector. Over time, he said, these changes should help create more competitive electricity distribution and more affordable, reliable power for consumers.
What Comes Next
In the next phase, the EOIs and accompanying Statements of Qualification (SOQs) will undergo a detailed evaluation against the commission’s approved prequalification criteria. Applicants who meet the requirements will move to the following stage, gaining access to a Virtual Data Room to conduct detailed buy-side due diligence on the company.
Fesco is one of three electricity distribution companies included in the Disco Batch-I privatization, alongside the Gujranwala Electric Power Company (Gepco) and the Islamabad Electric Supply Company (Iesco). The three are considered the most commercially viable among the 11 Discos originally spun out of the Water and Power Development Authority (Wapda) in 1998. EOI submission deadlines for Gepco and Iesco are set for August 21 and September 7, 2026, respectively.
The commission said it remains committed to an open, transparent and competitive process for all three transactions, describing the effort as part of the federal government’s broader power-sector reform agenda.
