DISCOs, ZTBL and State Life privatization: PC advances key transactions, approves major decisions

Business Recorder · 23/10/2026، 12:47:19 AM

ISLAMABAD: The Privatisation Commission (PC) Board, in its meeting held on Thursday under the chairmanship Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission, approved key measures relating to the privatisation of Islamabad Electric Supply Company Limited (IESCO), Faisalabad Electric Supply Company Limited (FESCO), Zarai Taraqiati Bank Limited (ZTBL), and State Life Insurance Corporation of Pakistan (SLIC). The Board approved the prequalification of 10 Interested Parties (IPs) for IESCO’s privatisation, reflecting strong participation from domestic and international investors. The following Interested Parties were prequalified: Aktor Elektrik Enerji Yatirimlari San. ve Tic. A.S., Türkiye; 2. Genvera Enerji A.S., Türkiye; 3. Cengiz Enerji Sanayiive Ticaret A.S., Türkiye; 4. Engro Energy Limited; 5. Artistic Milliners (Pvt) Limited Consortium, comprising The Lake City Holdings, Fatima Capital Limited, Din Ventures (Pvt) Limited and Fazal Cloth Mills Limited; 6. Hub Power Holding Limited Consortium, comprising Lucky Cement Limited, Kohat Cement Limited and Metro Ventures (Pvt) Limited; 7. Sapphire Fibers Limited; 8. Novatex Limited; 9. Bestway Cement Limited; 10. Hasnaat Brothers Construction Co. (Pvt) Limited Consortium, comprising Dhilal Holding Group, Pak Steel, Bio-Labs (Pvt) Limited and Farid Steel Casting (Pvt) Limited. The prequalified parties include three Turkish energy companies, alongside prominent Pakistani business groups and investment consortia, reflecting strong domestic and international investor interest in Pakistan’s electricity distribution sector and confidence in the Government’s ongoing privatisation programme. READ ALSO: PC receives 10 EOIs for the IESCO acquisition The 10 prequalified Interested Parties will now proceed to the next stage of the transaction in accordance with the approved process, including access to the Virtual Data Room (VDR) to undertake detailed buy-side due diligence. I