GEPCO privatisation draws 11 investor bids, says Privatisation Commission

The Privatisation Commission (PC) announced on Friday that it received expressions of interest (EOIs) from 11 investors – both domestic and international – for acquiring a controlling stake in Gujranwala Electric Power Company (GEPCO). The government has been seeking to privatize Pakistan's state-owned power distribution companies (DISCOs) as part of its strategy to boost efficiency, curb electricity losses, and entice private investment into the power sector.

The PC's statement highlighted the "overwhelming response" from the bidding process, with the interested parties seeking to acquire 51% to 100% shareholding in GEPCO, coupled with management control. The potential investors hail from Türkiye, Saudi Arabia, and prominent Pakistani business groups.

Among the investors are Aktor Elektrik Enerji Yatırımları San. ve Tic. A.Ş. from Türkiye, Genvera Enerji A.Ş. and Cengiz Enerji Sanayii ve Ticaret A.Ş. also from Türkiye, along with Saudi Arabia's Al Sharif Contracting and Commercial Development Company. Pakistan's Engro Energy Limited, Sapphire Fibers Limited, Hub Power Holdings, Lucky Cement, Shirazi Investments (Pvt) Limited, Artistic Milliners (Private) Limited, Fatima Group, K-Electric Limited, AKD Securities, Fast Cable, and Mughal Steel Group are also among the bidders.

PC Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, Muhammad Ali, expressed optimism about the strong investor interest in GEPCO, saying it reflects confidence in the power distribution sector's potential and the government's commitment to a transparent, competitive, and professionally managed privatization process.

The evaluation of the submitted Expressions of Interest and Statements of Qualification (SOQs) will be conducted against the prequalification criteria, with successful applicants invited to the next stage of the transaction. This stage will grant them access to the Virtual Data Room (VDR) for detailed due diligence. GEPCO is part of DISCOs Batch-I, alongside Faisalabad Electric Supply Company (FESCO) and Islamabad Electric Supply Company (IESCO).