The Privatisation Commission on Monday said it had received expressions of interest (EOIs) from 10 domestic and international investors for the proposed privatisation of Islamabad Electric Supply Company (Iesco).
Three Turkish companies — Aktor Elektrik Enerji, Genvera Enerji and Cengiz Enerji — and seven local investors or consortia have sought to acquire 51 to 100 per cent shares of Iesco along with management control.
The commission said several of the interested parties had also submitted EOIs for Faisalabad Electric Supply Company (Fesco) and Gujranwala Electric Power Company (Gepco).
The submitted EOIs and statements of qualification will now be evaluated against approved criteria. Successful applicants will be prequalified and granted access to a Virtual Data Room for detailed due diligence.
The commission said the privatisation was aimed at improving operational efficiency, modernising distribution infrastructure, reducing losses and strengthening customer services.
Ten parties have already been prequalified for Fesco, while 11 EOIs received for Gepco are under evaluation.
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