ISLAMABAD: The Privatisation Commission (PC) Board has prequalified 10 domestic and international investors, including three Turkish firms, for IESCO’s privatisation and approved key transaction-related measures for FESCO, ZTBL and State Life Insurance Corporation.
The decisions were taken at the Board’s 260th meeting on October 22, 2026, chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission.
The three Turkish firms prequalified for the Islamabad Electric Supply Company (IESCO) transaction are Aktor Elektrik Enerji Yatirimlari San. ve Tic. A.S., Genvera Enerji A.S. and Cengiz Enerji Sanayii ve Ticaret A.S.
The other prequalified parties comprise Engro Energy, Sapphire Fibers, Novatex and Bestway Cement, along with three consortia led by Artistic Milliners, Hub Power Holding and Hasnaat Brothers.
The Artistic Milliners-led consortium includes Lake City Holdings, Fatima Capital, Din Ventures and Fazal Cloth Mills. The consortium led by Hub Power Holding comprises Lucky Cement, Kohat Cement and Metro Ventures, while the Hasnaat Brothers-led consortium includes Dhilal Holding Group, Pak Steel, Bio-Labs and Farid Steel Casting.
The prequalification marks a key step in the IESCO privatisation process, which seeks private-sector participation through the proposed transfer of a controlling stake and management control. The process is intended to attract investment and improve the company’s operational efficiency and service delivery.
The prequalified investors are expected to proceed to the due diligence stage through the Virtual Data Room, in accordance with the prescribed transaction process.
IESCO is among the electricity distribution companies being considered for privatisation as part of the government’s broader effort to restructure and improve the performance of the power distribution sector.
Regarding Faisalabad Electric Supply Company (FESCO), the PC Board approved transaction-related measures to advance the privatisation process.
The Board also considered progress on the proposed privatisation of Zarai Taraqiati Bank Limited (ZTBL), which plays a key role in agricultural financing, and State Life Insurance Corporation of Pakistan (SLIC), approving measures related to their respective transactions.
The decisions reflect progress on privatisation initiatives spanning electricity distribution, banking and insurance. The IESCO prequalification decision brings 10 domestic and international investor groups into the next stage of the process, while the measures concerning FESCO, ZTBL and SLIC seek to move their respective transactions forward.
