The Privatisation Commission Board has prequalified 10 interested parties for the privatisation of Islamabad Electric Supply Company (IESCO), moving the power utility to the next stage of its sale. The decision was taken at the board’s 260th meeting, chaired by Privatisation Adviser Muhammad Ali.
The shortlisted parties include three Turkish energy companies — Aktor Elektrik, Genvera Enerji and Cengiz Enerji — alongside Engro Energy, Sapphire Fibers, Novatex and Bestway Cement, and consortia led by Artistic Milliners, Hub Power Holding and Hasnaat Brothers Construction.
The prequalified parties will now get access to a virtual data room for detailed due diligence. IESCO is in the first batch of distribution companies marked for privatisation, alongside Faisalabad Electric Supply Company and Gujranwala Electric Power Company. The same board meeting also advanced decisions on Zarai Taraqiati Bank and State Life Insurance Corporation.
Sources: ARY News, Business Recorder. Written in our own words for information only.