Karachi: Pak Elektron Limited (PEL) has announced its participation in a consortium formed to pursue the privatization of Faisalabad Electric Supply Company (FESCO), marking another significant development in Pakistan’s ongoing privatization process. The decision was disclosed to the Pakistan Stock Exchange (PSX) through a material information notice dated August 6, 2026.
According to the company, PEL has obtained the Request for Statement of Qualification (RSOQ) issued by the Privatization Commission for the proposed divestment of FESCO. Following this, the company’s Board of Directors approved PEL’s participation in a consortium that will seek pre-qualification for the transaction.
The consortium comprises Pak Elektron Limited, Pakgen Limited (formerly Pakgen Power Limited), Lalpir Limited (formerly Lalpir Power Limited), Nishat Power Limited, Nishat Chunian Power Limited, Nishat Mills Limited, and Kohinoor Energy Limited. As part of the arrangement, the consortium members have appointed Pakgen Limited as the Lead Consortium Member, authorizing it to represent the consortium and conduct all necessary activities during the privatization process on behalf of its members.
PEL clarified that its participation does not currently create any binding obligation regarding the acquisition. The proposed transaction remains subject to pre-qualification by the Privatization Commission, along with all required corporate and regulatory approvals before any final commitment can be made.
The company further stated that it will continue to keep the Pakistan Stock Exchange informed of any material developments related to the privatization process as they occur.
PEL’s involvement in the consortium reflects growing private sector interest in Pakistan’s power distribution sector as the government advances its privatization agenda. If the consortium successfully qualifies and progresses through the bidding process, the transaction could represent a significant milestone in the country’s efforts to improve efficiency and attract private investment into state-owned enterprises.
