KARACHI: Nishat Chunian Power Limited (NCPL) has announced its participation in a consortium seeking to acquire Faisalabad Electric Supply Company (FESCO) through Pakistan’s ongoing privatization program, marking another significant development in the country’s power sector privatization efforts.
In a material information notice submitted to the Pakistan Stock Exchange (PSX) on August 6, 2026, the company disclosed that it has received the amended or supplemented Request for Statement of Qualification (RSOQ) issued by the Privatization Commission for FESCO’s divestment. The company’s Board of Directors has approved its participation in the consortium pursuing the transaction.
The consortium comprises Nishat Chunian Power Limited, Pakgen Limited (formerly Pakgen Power Limited), Lalpir Limited (formerly Lalpir Power Limited), Nishat Power Limited, Nishat Mills Limited, Kohinoor Energy Limited, and Pak Elektron Limited (PEL). Under the arrangement, the consortium members have designated Pakgen Limited as the Lead Consortium Member.
As part of the agreement, Nishat Chunian Power has irrevocably authorized the Lead Consortium Member to act on its behalf during the privatization process, including conducting business related to the transaction through an authorized representative with the power to delegate responsibilities as required.
The company clarified that, at this stage, it has not undertaken any binding obligations concerning the proposed acquisition. The transaction remains subject to pre-qualification by the Privatization Commission, along with the fulfillment of all necessary corporate and regulatory approvals before any final agreement can be reached.
Nishat Chunian Power further stated that it will continue to keep the Pakistan Stock Exchange informed of any material developments related to the proposed transaction in accordance with applicable regulatory requirements.
