PC Board prequalifies 10 interested parties for FESCO privatisation
The Privatisation Commission (PC) Board approved on Friday the prequalification of interested parties (IPs) for the privatisation of the Faisalabad Electric Supply Company (FESCO), a statement said. The meeting was chaired by Mr Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission. “The Board was informed that 12 Expressions of Interest […]
In a recent meeting, the Privatisation Commission Board has greenlit ten out of twelve parties expressing interest in privatising Faisalabad Electric Supply Company (FESCO). The Privatisation Commission Board, under the chairmanship of Muhammad Ali, the Adviser to the Prime Minister on Privatisation, deliberated on the matter during its 258th meeting.
The Board reviewed 12 Expressions of Interest (EOIs) for FESCO, with Financial Adviser recommending prequalification for ten Interested Parties (IPs). The Board subsequently approved the pre-qualified IPs, which include Aktor Elektrik Enerji Yatirimlari San. Ve Tic. A.S., Genvera Enerji A.S., Cengiz Enerji Sanayii VeTicaret A.S., Engro Energy Limited, Sapphire Fibres Limited, Hub Power Holdings Consortium, Shirazi Investments (Pvt) Limited, Maple Leaf Cement Factory Limited Consortium, and Artistic Milliners (Pvt) Limited.
These IPs will now advance to the next phase of the transaction, gaining access to the Virtual Data Room for comprehensive due diligence. Furthermore, the Board also approved reconstitution of its audit and risk, human resources, investment, and legal committees.
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- Privatisation of FESCO: PC approves 10 out of 12 parties brecorder.com
