11 Saudi, Turkish and Pakistani Investors Want to Buy GEPCO

The privatization of Gujranwala Electric Power Company (GEPCO) has garnered significant attention from both local and foreign investors, with 11 potential buyers submitting Expressions of Interest (EOIs) to secure the entire company and its management. The Privatisation Commission received these EOIs on Friday, the final submission deadline, signaling a pivotal moment in Pakistan's effort to privatize key electricity distribution firms.

The applicants comprise three Turkish entities, one Saudi company, and multiple prominent Pakistani business groups. The Turkish participants are Aktor Elektrik Enerji Yatırımları, Genvera Enerji, and Cengiz Enerji. Al Sharif Contracting and Commercial Development Company, based in Saudi Arabia, has also shown interest. Pakistani investors include Engro Energy, Sapphire Fibers, Hub Power Holdings, Lucky Cement, Shirazi Investments, Artistic Milliners, Fatima Group, K Electric, and a consortium of AKD Securities, Fast Cable, and Mughal Steel Group.

Mr. Muhammad Ali, the Prime Minister's Adviser on Privatization and Chairman of the Privatisation Commission, highlighted the robust investor response as evidence of confidence in Pakistan's electricity distribution sector and the government's dedication to a fair and competitive privatization process. The EOIs and Statements of Qualification will undergo evaluation against the established prequalification standards.

Qualified entities will advance to the subsequent phase, gaining access to a Virtual Data Room for comprehensive due diligence. GEPCO is one of three distribution companies selected for the initial phase of the government's DISCO privatization program, which also features Faisalabad Electric Supply Company and Islamabad Electric Supply Company.

The deadline for investors to submit EOIs for Islamabad Electric Supply Company (IESCO) is set for September 7, 2026, while Faisalabad Electric Supply Company (FESCO) attracted 12 bids by the August 7 cutoff.