Pakistani, Turkish, Saudi companies show interest in Gepco privatisation, commission says

According to Dawn, the Privatisation Commission received 11 expressions of interest for Gujranwala Electric Power Company (Gepco) on the closing date, which fell on Friday. The submissions seek between 51 and 100 per cent of the shares, together with management control. The commission described the response as overwhelming from domestic and international investors.

Four of the 11 bids came from foreign investors, three from Turkiye and one from Saudi Arabia, while seven came from local business groups. The Saudi applicant is Al Sharif Contracting and Commercial Development Company, and no Chinese investor submitted for Gepco. Local parties named in the report include Engro Energy, Lucky Cement, K-Electric and AKD Securities.

Maple Leaf Cement, Kohinoor Textile, Nishat Mills and Pak Elektron submitted EOIs for Fesco but showed no interest in Gepco. Gepco sits in the first batch of Discos with Fesco and Iesco, where Iesco's EOI deadline is September 7, 2026. Applicants that meet the criteria will be invited onward and given access to a virtual data room for buy-side due diligence.