Karachi, August 25, 2026: Sapphire Fibres Limited has disclosed that it has obtained the Request for Statement of Qualification (RSOQ), as amended or supplemented from time to time, issued by the Privatisation Commission for the proposed privatisation of the Gujranwala Electric Power Company (GEPCO).
According to the disclosure submitted to the Pakistan Stock Exchange, Sapphire Fibres’ Board of Directors has approved the company’s participation in the transaction. However, the company clarified that, as of the date of the disclosure, it has not assumed any binding obligation in connection with the proposed transaction.
Sapphire Fibres said its participation remains subject to pre-qualification by the Privatisation Commission, as well as all other required corporate and regulatory approvals. This means the company’s current involvement represents an expression of interest and does not yet constitute a final commitment to acquire or invest in GEPCO.
The company also stated that it may form a consortium once the necessary approval is granted. A consortium could allow Sapphire Fibres to participate alongside other investors or business groups in the privatisation process, although no details regarding potential partners were disclosed in the announcement.
Sapphire Fibres further assured the Pakistan Stock Exchange that it will continue to keep the Exchange informed about material developments concerning the transaction.
The disclosure was made under Sections 96 and 131 of the Securities Act, 2015, along with Clause 5.6.1 of the Pakistan Stock Exchange Rule Book. The company’s formal disclosure, dated August 25, 2026, provides the latest official indication of Sapphire Fibres’ interest in the GEPCO privatisation process.
What the Development Means
Sapphire Fibres’ decision to seek qualification for the GEPCO transaction highlights the growing interest of private-sector investors in Pakistan’s power distribution sector. GEPCO is one of the country’s electricity distribution companies, and its proposed privatisation is part of broader efforts to attract private investment and improve the performance of public-sector enterprises.
For Sapphire Fibres, participation in the process could potentially provide an opportunity to diversify beyond its core textile-related operations. However, the company has made clear that several stages remain before any transaction can move forward.
At this stage, investors should therefore view the announcement as an important development in the qualification and bidding process rather than confirmation of an acquisition. Further details are expected if Sapphire Fibres successfully clears the pre-qualification process and advances toward the next stages of the privatisation.
