JDW Sugar Mills Limited has decided to join a consortium led by Pakgen Limited to participate in the privatization process of Faisalabad Electric Supply Company (FESCO), marking the company’s entry into a major transaction involving one of Pakistan’s electricity distribution companies.
According to a material information notice issued by JDW Sugar Mills on August 20, 2026, the company was approached by Pakgen Limited in connection with the Request for Statement of Qualification (RSOQ) issued by the Privatisation Commission for the proposed divestment of FESCO through privatization.
Under the proposed arrangement, JDW Sugar Mills has resolved to become a member of the consortium by joining the amended Statement of Qualification submitted for participation in the FESCO privatization process.
The consortium is being led by Pakgen Limited, while other members include Nishat Mills Limited, Lalpir Limited, Nishat Power Limited, Nishat Chunian Power Limited, Kohinoor Energy Limited, Pak Elektron Limited, JDW Sugar Mills Limited, Deharki Sugar Mills (Private) Limited and ATF Agri Sciences (Private) Limited.
The development brings together companies from the energy, industrial and agricultural sectors as they seek to participate in the potential privatization of FESCO.
However, JDW Sugar Mills clarified that joining the consortium does not currently create any binding obligation for the company regarding the transaction. The proposed deal remains subject to pre-qualification by the Privatisation Commission as well as the completion of all necessary corporate and regulatory approvals.
The company also stated that it will continue to inform the Pakistan Stock Exchange about any material developments concerning the transaction.
The disclosure form attached to the notice, shown on page two of the filing, reiterates the same position and identifies JDW Sugar Mills as a consortium member.
For JDW Sugar Mills, participation in the consortium could provide an opportunity to expand beyond its traditional business interests and take part in Pakistan’s ongoing efforts to restructure and privatize state-owned electricity distribution companies. At this stage, however, the company has not committed to the transaction on a binding basis.
The next significant step will be the pre-qualification process and the required regulatory and corporate approvals. Further developments will determine whether the consortium ultimately proceeds with a formal bid for FESCO.
Key Takeaway: JDW Sugar Mills has joined a Pakgen-led consortium seeking to participate in the FESCO privatization process, but the company emphasized that the move is currently non-binding and remains subject to regulatory approvals and pre-qualification.
