Islamabad: The Privatisation Commission Board has greenlit the next phase in the privatisation of the Faisalabad Electric Supply Company (FESCO), prequalifying ten interested parties in a decisive move at its 258th meeting. Chaired by Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, the meeting underscored the government’s commitment to a transparent and accountable privatisation process.

According to Privatisation Commission, twelve expressions of interest were initially received for FESCO. After evaluating these submissions against the prequalification criteria, the Financial Adviser recommended ten parties for progression. The prequalified entities include prominent names such as Aktor Elektrik Enerji Yatirimlari San. Ve Tic. A.S., Genvera Enerji A.S., Engro Energy Limited, and a Hub Power Holdings Consortium. The parties will now move forward with access to a Virtual Data Room for due diligence.

Additionally, the Board approved the reconstitution of its Audit and Risk, Human Resources, Investment, and Legal Committees, reinforcing its dedication to professionally managed transactions. The Board reiterated its focus on maximising value for the government and citizens of Pakistan through competitive and transparent processes.