The privatization process for Islamabad Electric Supply Company (IESCO) has attracted interest from 10 local and international investor groups as the federal government moves forward with plans to sell selected power distribution companies.
IESCO is among the first batch of electricity distribution companies being considered for privatization. The interest from multiple investors indicates strong participation in the process as the government seeks private investment in the power sector.
Three Turkish companies have reportedly expressed interest in acquiring IESCO. These include Aktor Elektrik Enerji Yatırımları, Genvera Enerji and Cengiz Enerji.
Seven Pakistani business groups and companies have also joined the process. The local participants include Engro Energy Limited, Artistic Milliners Consortium, Hub Power Holding Consortium, Sapphire Fibres Limited, Novatex Limited, Bestway Cement Limited and Hasnaat Brothers Construction Consortium.
Some of the local bidders are participating through business consortiums involving multiple companies.
The Artistic Milliners Consortium includes Lake City Holdings, Fatima Capital, Din Ventures and Fazal Cloth Mills. The consortium has joined the process as one of the local groups interested in the power distribution company.
The Hub Power Holding Consortium includes Lucky Cement, Kohat Cement and Metro Ventures. These companies are participating together in the privatization process.
The Hasnaat Brothers Construction Consortium also comprises several businesses. Its members include Dhilal Holding Group, Pak Steel, Bio-Labs and Farid Steel Casting.
The government is pursuing the privatization of selected electricity distribution companies as part of wider efforts to attract investment and improve efficiency in the power sector. The process is expected to involve further evaluation of interested parties before any final decision is made.
Along with IESCO, Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO) are also part of the first batch of distribution companies being considered under the privatization programme.
IESCO provides electricity services to Islamabad and surrounding areas. Any change in its ownership will be subject to the government’s privatization framework and the completion of the required procedures.
The participation of both domestic and international groups represents an important stage in the process. The government will now assess the interested parties and proceed with the next steps according to the applicable rules and requirements.
Further developments are expected as the privatization process advances and authorities evaluate the proposals submitted by the interested investor groups.
Also read: IESCO Announces Power Suspension Schedule for Saturday
