Privatisation Commission gets ‘overwhelming response’ from investors for Iesco privatisation

The Privatisation Commission on Monday said it received an “overwhelming response” from domestic and international investors for the privatisation of Islamabad Electric Supply Company (Iesco). Iesco is among the three electricity distribution companies in Discos Batch-I, alongside Faisalabad Electric Supply Company (Fesco) and Gujranwala Electric Power Company (Gepco). In a statement on Monday, the commission said it received expressions of interest (EOIs) from three Turkish and seven local prospective investors seeking to acquire 51 per cent to 100pc shareholding in Iesco, along with management control.

The Turkish investors are Aktor Elektrik Enerji, Genvera Enerji and Cengiz Enerji — all of whom had also expressed interest in Gujranwala Electric Power Company (Gepco). The local investors include Engro Energy; a consortium comprising Artistic Milliners, The Lake City Holdings, Fatima Capital Limited, Din Ventures (Pvt) Limited and Fazal Cloth Mills Limited; along with a consortium led by Hubco Power Holding and including Lucky Cement Limited, Kohat Cement Limited and Metro Ventures (Private) Limited.