Seven listed companies have joined hands to form a consortium to participate in the privatization of Faisalabad Electric Supply Company (FESCO), with each company informing the Pakistan Stock Exchange (PSX) that its board has approved participation in the transaction.
The consortium includes Pakgen Limited (formerly Pakgen Power Limited), Lalpir Limited (formerly Lalpir Power Limited), Nishat Power Limited, Nishat Chunian Power Limited, Nishat Mills Limited, Kohinoor Energy Limited, and Pak Elektron Limited (PEL).
The companies said they have received the Request for Statement of Qualification (RSOQ) issued by the Privatization Commission for FESCO’s proposed divestment.
Under the consortium structure, Pakgen Limited will serve as the lead member and will represent the group in all matters related to the privatization process.
The companies clarified that joining the consortium does not create any binding commitment to complete the transaction. Their participation remains conditional on qualification by the Privatization Commission, along with necessary corporate and regulatory approvals.
The consortium brings together three prominent Pakistani business groups. The Nishat Group is participating through Nishat Mills, Nishat Power, Pakgen Limited, and Lalpir Limited, while Nishat Chunian Power represents the separate Nishat Chunian Group. The Saigol Group has joined through Pak Elektron Limited and Kohinoor Energy.
FESCO is among Pakistan’s most financially stable state-owned electricity distribution companies, supplying power to more than 5.5 million consumers across eight districts of central Punjab, including Faisalabad, the country’s major textile hub.
The distribution company has historically maintained some of the lowest transmission and distribution losses and one of the highest recovery rates among government-owned DISCOs, making it one of the most attractive assets in Pakistan’s power sector privatization drive.
The Privatization Commission is offering investors between 51 percent and 100 percent ownership of FESCO, along with management control, under the first phase of DISCO privatization.
