Privatisation Commission gets ‘overwhelming response’ from investors for Iesco privatisation

Islamabad Electric Supply Company (Iesco) has received a significant response from both domestic and international investors for its privatisation, according to the Privatisation Commission. The commission received expressions of interest (EOIs) from three Turkish investors and seven local investors seeking to acquire a controlling share in Iesco, ranging from 51% to 100%.

Turkish investors include Aktor Elektrik Enerji, Genvera Enerji, and Cengiz Enerji, all of which also expressed interest in Gujranwala Electric Power Company (Gepco). Local investors, such as Engro Energy and a consortium led by Hubco Power Holding, also showed interest in Iesco.

The commission welcomed the attention from the investor community during their domestic and international roadshows, and expressed confidence in Pakistan's power-sector reform agenda. Privatisation Commission head Muhammad Ali stated that the strong response from investors reflects their belief in the potential of Pakistan's electricity distribution sector and the government's commitment to a transparent, competitive, and professionally managed process.

The commission will now engage with prequalified investors through the due-diligence process to seek alignment on an equitable and transparent post-privatisation regime. This process aims to improve operational efficiency, modernize distribution infrastructure, strengthen customer service, and reduce losses to create a more financially sustainable power sector, ultimately leading to affordable and reliable power for consumers.