Islamabad Electric Supply Company (IESCO) has received interest from 10 local and international investor groups as the government continues its privatization process.
The development comes as the government considers the sale of selected power distribution companies. IESCO is among the first group of distribution companies included in the privatization program.
According to available details, three Turkish companies have shown interest in acquiring IESCO. These companies include Aktor Elektrik Enerji Yatırımları, Genvera Enerji, and Cengiz Enerji.
Along with international investors, several Pakistani business groups have also expressed interest in the power company. A total of seven local groups and companies are part of the process.
The interested Pakistani companies 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 consists of multiple companies. These include 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 as its members.
The Hasnaat Brothers Construction Consortium also includes several businesses. These are Dhilal Holding Group, Pak Steel, Bio-Labs, and Farid Steel Casting.
The government is moving ahead with plans to privatize selected electricity distribution companies. The process aims to attract investment and improve the performance of the power sector.
Besides IESCO, Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO) are also included in the first batch of distribution companies being considered for privatization.
The interest from both local and international investors marks an important stage in the privatization process. Further steps will depend on the government’s evaluation and completion of required procedures.
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The Islamabad Electric Supply Company provides electricity services to the federal capital and surrounding areas. Any future changes in ownership will follow the official privatization framework announced by the government.
