Karachi, August 6, 2026 — Nishat Mills Limited has informed the Pakistan Stock Exchange (PSX) that it has joined a consortium pursuing the privatization of Faisalabad Electric Supply Company (FESCO), marking a significant development in Pakistan’s ongoing privatization process.
In its material information notice, the company stated that it has obtained the Request for Statement of Qualification (RSOQ) issued by the Privatization Commission for the proposed divestment of FESCO. The Board of Directors has approved Nishat Mills’ participation in a consortium that intends to seek pre-qualification for the transaction.
The consortium comprises Nishat Mills Limited, Pakgen Limited (formerly Pakgen Power Limited), Lalpir Limited (formerly Lalpir Power Limited), Nishat Power Limited, Nishat Chunian Power Limited, Kohinoor Energy Limited, and Pak Elektron Limited (PEL). As part of the arrangement, Pakgen Limited has been designated as the Lead Consortium Member, with authority to represent the consortium and conduct business related to the privatization process on behalf of all participating companies.
Nishat Mills emphasized that, at this stage, it has not assumed any binding obligation concerning the proposed transaction. The company noted that the process remains subject to pre-qualification by the Privatization Commission, as well as all necessary corporate and regulatory approvals.
The company further assured investors that it will continue to keep the Pakistan Stock Exchange informed of any material developments as the privatization process progresses.
The disclosure reflects growing private-sector interest in the government’s efforts to privatize state-owned enterprises, with Nishat Mills and its consortium partners positioning themselves as potential participants in the acquisition process, subject to regulatory clearance and successful qualification.
