Who Wants to Buy GEPCO? 11 Pakistani, Turkish and Saudi Investors Enter Privatisation Race

11 Investors Seek Up to 100% Stake With Management Control

The privatisation of Gujranwala Electric Power Company (GEPCO) has attracted strong interest from local and international investors, with 11 companies and business groups entering the race to acquire the electricity distributor.

The Privatisation Commission confirmed that it received 11 Expressions of Interest (EOIs) by the closing date of August 21, 2026. The prospective investors are seeking between 51% and 100% shareholding in GEPCO, together with management control.

The response includes three companies from Türkiye, one from Saudi Arabia and seven Pakistani companies or business groups.

The three Turkish investors are Aktor Elektrik Enerji Yatırımları San. ve Tic. A.Ş., Genvera Enerji A.Ş. and Cengiz Enerji Sanayii ve Ticaret A.Ş.

Saudi Arabia is represented by Al Sharif Contracting and Commercial Development Company.

The Pakistani participants include some of the country’s biggest energy, industrial and investment groups.

They are Engro Energy Limited, Sapphire Fibers Limited, Hub Power Holdings and Lucky Cement, Shirazi Investments, Artistic Milliners and Fatima Group, K-Electric Limited, and a consortium comprising AKD Securities, Fast Cable and Mughal Steel Group.

The Privatisation Commission described the response as an important milestone in the government’s plan to introduce private-sector participation in electricity distribution companies.

Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, said the interest reflected confidence in Pakistan’s electricity distribution sector and the government’s privatisation programme.

What Happens After GEPCO Investors Submit EOIs?

Submitting an Expression of Interest does not mean an investor has already qualified to buy GEPCO.

The Privatisation Commission will now evaluate the EOIs and Statements of Qualification against approved prequalification criteria.

Companies that meet the requirements will move to the next stage of the transaction.

Prequalified investors will receive access to a Virtual Data Room, where they will be able to examine detailed financial, operational and technical information about GEPCO before deciding whether to submit final bids.

The due diligence process is expected to allow potential buyers to examine GEPCO’s assets, liabilities, financial performance and operational conditions.

The government plans to offer investors a controlling interest ranging from 51% to a complete 100% shareholding.

Management control will also be transferred as part of the proposed transaction.

The government says private-sector participation is intended to improve operational efficiency, modernise electricity distribution infrastructure, strengthen customer service and reduce losses.

It also hopes the wider DISCO privatisation programme will improve the financial sustainability of Pakistan’s power sector.

However, the final transaction will depend on prequalification, due diligence, bidding and government approval.

FESCO, GEPCO and IESCO Form First DISCO Privatisation Batch

GEPCO is one of three electricity distribution companies included in the first phase of Pakistan’s DISCO privatisation programme.

The other two are Faisalabad Electric Supply Company (FESCO) and Islamabad Electric Supply Company (IESCO).

FESCO attracted even more interest earlier this month.

The Privatisation Commission received 12 EOIs for FESCO by its August 7 deadline.

Those included three Turkish investors, one Chinese investor and eight Pakistani investors.

Many of the groups interested in GEPCO have also entered the FESCO privatisation process.

However, GEPCO did not attract the Chinese investor that submitted an EOI for FESCO.

Instead, Saudi Arabia’s Al Sharif Contracting and Commercial Development Company joined the GEPCO competition.

The deadline for Expressions of Interest in IESCO is September 7, 2026, completing the initial investor solicitation process for the first batch of distribution companies.

The strong response to both FESCO and GEPCO suggests that major domestic and foreign investors are willing to explore controlling stakes in Pakistan’s power distribution businesses.

The next major step will be determining which of the 11 GEPCO applicants satisfy the government’s prequalification requirements.

Those investors will then proceed to detailed due diligence before formal bidding begins.