The privatization of the Islamabad Electric Supply Company (IESCO) has attracted interest from 10 local and international investor groups. The government is moving ahead with plans to privatize selected power distribution companies as part of its broader reform programme.
Three Turkish Companies Show Interest
Three Turkish companies have expressed interest in acquiring IESCO. These include Aktor Elektrik Enerji Yatırımları, Genvera Enerji and Cengiz Enerji.
The participation of international investors has added further interest to the planned privatization process.
Seven Pakistani Groups Enter Race
Seven Pakistani companies and business groups have also shown interest in IESCO.
They include Engro Energy Limited, Artistic Milliners Consortium, Hub Power Holding Consortium, Sapphire Fibres Limited, Novatex Limited, Bestway Cement Limited and Hasnaat Brothers Construction Consortium.
The Artistic Milliners Consortium comprises Lake City Holdings, Fatima Capital, Din Ventures and Fazal Cloth Mills. Meanwhile, the Hub Power Holding Consortium includes Lucky Cement, Kohat Cement and Metro Ventures.
The Hasnaat Brothers Construction Consortium consists of Dhilal Holding Group, Pak Steel, Bio-Labs and Farid Steel Casting.
IESCO Part of First Privatization Batch
IESCO is among the first group of distribution companies being considered under the government’s privatization programme.
Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO) are also included in the first batch. The government is seeking investor participation as it works to reform the power distribution sector.
The interest from both domestic and international groups could shape the next stage of the IESCO privatization process.
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