ISLAMABAD: The Privatisation Commission has prequalified 10 domestic and international investors for the proposed privatisation of Islamabad Electric Supply Company (IESCO), including three energy companies from Türkiye.
The decision was approved during the commission board’s 260th meeting on October 22, chaired by Adviser to the Prime Minister on Privatisation Muhammad Ali.
The three Turkish companies are Aktor Elektrik Enerji Yatirimlari, Genvera Enerji and Cengiz Enerji.
Pakistani participants include Engro Energy, Sapphire Fibers, Novatex and Bestway Cement, alongside investment groups led by Artistic Milliners, Hub Power Holding and Hasnaat Brothers Construction.
The shortlisted investors will move to the next stage of the privatisation process.
This includes access to a virtual data room, where potential buyers can examine financial, operational and other information before deciding whether to submit bids.
Prequalification does not mean that IESCO has been sold or that a winning bidder has been selected.
IESCO is among the first group of electricity distribution companies identified for privatisation, alongside Faisalabad Electric Supply Company and Gujranwala Electric Power Company.
The government is seeking private investment and management participation as part of broader reforms in the power distribution sector.
At the same meeting, the board also approved decisions concerning the privatisation processes for Zarai Taraqiati Bank and State Life Insurance Corporation.
The commission said the transactions are intended to attract investment and improve operational efficiency and service delivery.
Further steps will depend on due diligence, bidding arrangements and the government’s approved transaction process.