Sapphire Fibres Enters GEPCO Privatization Race After Seeking FESCO Stake

Sapphire Fibres Limited has entered the race for the privatization of Gujranwala Electric Power Company (GEPCO), joining its earlier interest in Faisalabad Electric Supply Company (FESCO) as the government moves ahead with the privatization of its first batch of power distribution companies. The company has obtained the Request for Statement of Qualification issued by the Privatization Commission for the divestment of GEPCO, and its board has approved its participation in the transaction, pending prequalification and required corporate and regulatory approvals.

Sapphire Fibres may form a consortium once the relevant approval is granted, and it will continue to keep the stock exchange informed about material developments related to its participation in the transaction.

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