Pakistani textile firm Sapphire Fibres joins race for IESCO privatisation
Sapphire Fibres Limited’s board has approved the company’s participation in the privatisation process of Islamabad Electric Supply Company (IESCO). The listed textile manufacturer disclosed the development in a notice to the Pakistan Stock Exchange (PSX) on Friday. “Sapphire Fibres Limited obtained the Request for Statement of Qualification as amended or supplemented from time to time (RSOQ)…
Pakistani textile firm Sapphire Fibres has joined the race for the privatisation of Islamabad Electric Supply Company (IESCO), as reported by Business Recorder. The company's board approved its participation in the transaction, subject to pre-qualification by the Privatisation Commission (PC) and requisite corporate and regulatory approvals.
Sapphire Fibres may form a consortium once approval is granted. The privatisation of IESCO is part of a broader government initiative to reduce transmission losses, improve recovery, and enhance the quality of service delivery in the power distribution sector.
Brief written by urgent.news from Business Recorder's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
