Privatisation of FESCO: PC approves 10 out of 12 parties
ISLAMABAD: The Privatisation Commission (PC) Board has approved ten of the twelve interested parties that submitted Expressions of Interest (EOIs) for the privatisation of Faisalabad Electric Supply Company (FESCO). In its 258th meeting held here on Friday, the PC Board approved the prequalification of Interested Parties for the privatisation of FESCO. The meeting was chaired by Muhammad Ali,…
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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