FAISALABAD (Commerce Desk): Twelve local and foreign investor groups have expressed interest in the privatization of the Faisalabad Electric Supply Company (FESCO).
Twelve expressions of interest have been received from major business groups from Turkey, China, and Pakistan to acquire 51 to 100 percent of FESCO’s shares. The Privatization Commission has described the development as a major milestone in the privatization process of FESCO.
According to sources, following FESCO, the privatization processes of the Gujranwala Electric Power Company (GEPCO) and the Islamabad Electric Supply Company (IESCO) are also underway.
Pre-qualified investors will be provided access to a virtual data room to conduct a detailed review of FESCO’s financial and administrative affairs.