Global and Local Bidders Eye Stake in Fesco Privatisation

The government's push to offload state-owned power distribution entities gained significant momentum as a dozen prominent local and international business groups stepped forward to express interest in the privatization of Faisalabad Electric Supply Company.

According to official statements from the Privatisation Commission, the transaction has drawn 12 formal expressions of interest. The prospective buyers are competing to secure equity ranging between 51 percent and 100 percent, a controlling share that includes operational oversight of the power distribution utility.

International appetite for the asset is led by three Turkish energy firms alongside a Chinese construction enterprise. The Turkish suitors comprise Aktor Elektrik Enerji Yatirimlari, Genvera Enerji under the Celik Group banner, and Cengiz Enerji. Meanwhile, China’s representation comes via Jiang Xi Electric Power Construction, marking strong cross-border interest in Pakistan's energy infrastructure.

On the domestic front, eight major industrial players and joint ventures submitted proposals to participate in the sale. The list of domestic contenders features Engro Energy, Sapphire Fibers, Hub Power Holdings, Lucky Cement, and Shirazi Investments of the Atlas Group. Additionally, joint bids were tendered by partnerships involving Maple Leaf Cement with Kohinoor Textile, Nishat Mills with Pak Elektron, and Artistic Milliners alongside K-Electric.

This broad transaction interest marks a crucial milestone in the country's broader strategy to restructure the power sector, transfer management of loss-making or inefficient utilities to private hands, and attract foreign direct investment into critical national infrastructure.