Karachi: Sapphire Fibres Limited has announced its intention to participate in the privatization process of Faisalabad Electric Supply Company (FESCO), marking another step by a listed corporate entity toward potential investment in Pakistan’s power sector. The company disclosed the development to the Pakistan Stock Exchange (PSX) through a notice dated August 7, 2026.
According to the disclosure, Sapphire Fibres has obtained the Request for Statement of Qualification (RSOQ) issued by the Privatization Commission for the proposed divestment of FESCO. The company’s Board of Directors has approved participation in the qualification process, enabling Sapphire Fibres to submit the required documentation for consideration.
The company clarified that its approval to participate does not constitute a binding commitment to proceed with the transaction. Any future involvement remains subject to pre-qualification by the Privatization Commission, as well as the completion of all necessary corporate and regulatory approvals.
Sapphire Fibres also stated that it may choose to form a consortium after receiving the required approvals, depending on the progress of the privatization process and the strategic requirements of the transaction. The company has committed to keeping the Pakistan Stock Exchange informed of any material developments related to the matter.
The announcement reflects Sapphire Fibres’ interest in exploring strategic investment opportunities beyond its core business while emphasizing that the process is still in its preliminary stages. Any final investment decision will depend on successful qualification and the fulfillment of applicable regulatory conditions.
