The Privatisation Commission has announced an extension of the deadline for submission of Expressions of Interest (EOIs) for the privatisation of Faisalabad Electric Supply Company (Fesco) and Gujranwala Electric Power Company (Gepco) under the batch-I DISCOs sell-off programme. According to a press release issued on Wednesday, the revised deadline for Fesco is August 7, while for Gepco it is August 21. However, the deadline for Islamabad Electric Supply Company (Iesco) remains unchanged at September 7, 2026.
Reason for Extension
The extension was granted in response to requests from prospective investors who needed additional time to complete their internal evaluations and prepare comprehensive proposals. The commission stated that it is committed to facilitating a transparent and investor-friendly process.
Government's Privatisation Plan
The government is offering 51% to 100% shareholding, along with management control, in the first batch of power distribution companies. This initiative is part of a broader economic reform and privatisation agenda aimed at attracting strategic investors who can enhance operational efficiency, improve service delivery, reduce losses, and strengthen the power distribution sector in Pakistan.
Commitment to Transparency
The Privatisation Commission reiterated its commitment to conducting a transparent, competitive, and investor-friendly process that encourages broad participation from qualified local and international investors. The extension is seen as a step to ensure maximum participation and competitive bidding.
