ISLAMABAD (MNN); The Privatisation Commission on Monday announced an “overwhelming response” from domestic and international investors for the proposed privatisation of Islamabad Electric Supply Company (IESCO), with 10 prospective investors submitting Expressions of Interest (EOIs) for between 51 per cent and 100 per cent shareholding along with management control.
IESCO is one of three electricity distribution companies included in the first batch of DISCOs being offered for private-sector participation, along with Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO). The government’s approved structure provides for the transfer of 51pc to 100pc shareholding together with management control in each company.
According to the Privatisation Commission, the 10 IESCO investors comprise three Turkish companies and seven local investors.
The Turkish participants are Aktor Elektrik Enerji, Genvera Enerji and Cengiz Enerji, all of which have also expressed interest in the privatisation of GEPCO.
The Pakistani investors include Engro Energy; a consortium comprising Artistic Milliners, The Lake City Holdings, Fatima Capital Limited, Din Ventures (Pvt) Limited and Fazal Cloth Mills Limited; and a consortium led by Hubco Power Holding, with Lucky Cement, Kohat Cement and Metro Ventures as members.
Other Pakistani participants are Sapphire Fibres Limited, Novatex Limited and Bestway Cement Limited, while a new consortium comprising Hasnaat Brothers Construction Co. (Pvt) Limited, Dhilal Holding Group, Pak Steel, Bio-Labs (Pvt) Limited and Farid Steel Casting (Pvt) Limited has also submitted an EOI for IESCO.
The Privatisation Commission said the strong investor participation followed domestic and international roadshows and reflected continued engagement with the government’s power-sector reform programme.
Privatisation Commission Chairman and Adviser to the Prime Minister on Privatisation Muhammad Ali described the investor response as an important milestone in the DISCO privatisation process, saying the participation demonstrated investor interest in Pakistan’s electricity distribution sector and the government’s stated commitment to a transparent and competitive transaction.
The commission will now evaluate the EOIs and Statements of Qualification (SOQs) against the approved prequalification criteria. Applicants meeting the requirements will be prequalified for the next stage and given access to a Virtual Data Room (VDR) to conduct detailed buy-side due diligence.
The commission said it would engage with prequalified investors on the proposed post-privatisation framework, with the stated objectives of improving operational efficiency, modernising distribution infrastructure, strengthening customer services and reducing electricity losses.
The government has said the broader DISCO reform programme is aimed at creating a more financially sustainable electricity distribution sector and improving the conditions for reliable and affordable electricity supply.
IESCO’s EOI deadline was extended to September 21, 2026, to facilitate wider investor participation. The Privatisation Commission said the extension was intended to provide prospective investors additional time to complete due diligence and support a competitive and transparent process.
The IESCO process is part of the wider privatisation programme for Batch-I DISCOs. The commission had earlier received strong interest in FESCO and GEPCO, with 12 EOIs submitted for FESCO and 11 for GEPCO. Ten parties have already been prequalified for FESCO, while GEPCO submissions are under evaluation.
The Privatisation Commission said the IESCO transaction would proceed through an open, transparent and competitive process in accordance with the approved framework and applicable procedures.
