Two new investors have joined the bidding process for Gujranwala Electric Power Company. Their participation raises the total number of interested investors to 11.
The Privatisation Commission received Expressions of Interest from all prospective bidders on Friday. They are seeking between 51% and 100% of Gepco shares.
The successful bidder will also receive management control of the electricity distribution company. The transaction forms part of Pakistan’s wider power sector privatisation programme.
Two New Investors Enter the Process
Only two of the 11 prospective bidders are new participants. These include one Pakistani business group and one foreign consortium.
The remaining nine investors had already submitted documents for Faisalabad Electric Supply Company. They can now participate in the Gepco bidding process under revised government rules.
The government recently changed the bidding conditions for power distribution companies. A qualified investor can now bid for two additional companies.
However, the bidder must first meet the required technical and financial conditions. This policy has increased the number of investors listed for each transaction.
Despite the higher figures, many of the same investors appear in different privatisation processes.
Local and Foreign Companies Show Interest
Saudi Arabia’s Al Sharif Contracting and Commercial Development Company is among the new interested investors.
Several well-known Pakistani companies have also entered the race. These include AKD Securities, Fast Cables and Mughal Steel Group.
Three Turkish companies are also participating in the power distribution privatisation programme. They include Aktor Elektrik Enerji and Genvera Enerji A of Celik Group.
Cengiz Enerji Sanayii ve Ticaret A is the third Turkish company involved in the process.
Major Pakistani business groups have also expressed interest in acquiring Gepco. Engro Energy, Sapphire Fibers and Hub Power Holdings have submitted the required documents.
Shirazi Investments and Artistic Milliners are also among the prospective investors. Both companies have shown interest in acquiring stakes in electricity distribution businesses.
K-Electric has also submitted documents to participate in the privatisation process.
Government Welcomes Investor Response
Muhammad Ali welcomed the participation of local and international investors. He serves as Adviser to the Prime Minister on Privatisation.
According to him, the response shows investor confidence in Pakistan’s electricity distribution sector.
The government wants private investment to improve efficiency and management across power distribution companies. It also expects privatisation to support wider reforms within the energy sector.
The Privatisation Commission will now review the submitted documents. Investors must meet the required financial and technical standards before entering the next stage.
In other news read more about: Government Considers Moving Imran Khan from Adiala Jail
Further details about the Gepco transaction will emerge after the qualification process is completed.
