KARACHI: Nishat Power Limited has announced that its Board of Directors has approved the company’s participation in a consortium bidding for the privatization of Faisalabad Electric Supply Company (FESCO), marking another significant development in Pakistan’s ongoing privatization program.
In a material information notice submitted to the Pakistan Stock Exchange (PSX) on August 6, 2026, the company disclosed that it had obtained the Request for Statement of Qualification (RSOQ), including any amendments or supplements issued by the Privatization Commission, for the proposed divestment of FESCO.
According to the disclosure, Nishat Power is participating as a consortium member alongside Pakgen Limited (formerly Pakgen Power Limited), Lalpir Limited (formerly Lalpir Power Limited), Nishat Mills Limited, Nishat Chunian Power Limited, Kohinoor Energy Limited, and Pak Elektron Limited. The consortium has appointed Pakgen Limited as the Lead Consortium Member, authorizing it to represent all consortium members and conduct business related to the privatization process on their behalf.
The company clarified that, at this stage, it has not assumed any binding obligation regarding the transaction. The proposed acquisition remains subject to pre-qualification by the Privatization Commission, as well as the completion of all required corporate and regulatory approvals. Nishat Power also stated that it will continue to keep the Pakistan Stock Exchange informed of any material developments concerning the transaction.
The announcement reflects continued private-sector interest in Pakistan’s power distribution sector, with FESCO’s privatization expected to attract strategic investors seeking opportunities to improve operational efficiency and expand their presence in the country’s energy market.
