The privatization of Gujranwala Electric Power Company (GEPCO) has entered the evaluation and prequalification stage after the government received 11 Expressions of Interest (EOIs) from potential investors.

The Ministry of Privatization said Tuesday that the interested parties will now undergo evaluation and prequalification.

Investors that qualify will be given access to a Virtual Data Room to conduct due diligence on GEPCO. The process will then move to pre-bid negotiations before competitive bidding.

The ministry said the transaction will be conducted with an emphasis on transparency, competition, efficiency and long-term value creation.

The development is the latest step in the government’s efforts to privatize power distribution companies and bring private investment into the electricity distribution sector.