IESCO privatisation draws 10 investor groups

The Privatisation Commission received expressions of interest from 10 investor groups, comprised of both domestic and international entities, for the acquisition of stakes in Islamabad Electric Supply Company (IESCO). The bidding process closed on Monday, with submissions encompassing various private and consortium investors. The interested parties include three Turkish firms, three Pakistani entities, and five additional companies.

The Privatisation Adviser to the Prime Minister and Chairman of the Privatisation Commission, Muhammad Ali, expressed satisfaction with the response, attributing it to investor confidence in Pakistan's electricity distribution sector and the government's commitment to a transparent process. The Commission now intends to engage constructively with the prequalified investors through a due-diligence phase to determine an equitable, transparent, and predictable post-privatisation regime.

The evaluated EOIs and Statements of Qualification will determine which applicants meet the necessary prequalification criteria and are invited to the subsequent stages, including access to a Virtual Data Room for detailed due diligence. IESCO is part of the first batch of DISCOs, along with Faisalabad Electric Supply Company and Gujranwala Electric Power Company.

The government aims to enhance operational efficiency, modernize distribution infrastructure, bolster customer service, and reduce losses through the privatisation process.