10 of 12 parties prequalified for Fesco privatisation, K-Electric withdraws

According to Dawn, the Privatisation Commission's board cleared 10 of the 12 bidders seeking to buy Faisalabad Electric Supply Company (Fesco) on Friday. K-Electric pulled out of the race, while a Chinese firm was excluded after lodging its expression of interest in Chinese rather than English, despite repeated requests. The board was also told that 12 expressions of interest had reached the commission for Fesco.

Three of the prequalified bidders are Turkish groups: Aktor Elektrik Enerji Yatırımları, Genvera Enerji and Cengiz Enerji Sanayii ve Ticaret. The local entries include Engro Energy Limited, Sapphire Fibres, a group with Hub Power Holdings, Lucky Cement and Metro Ventures, and a Pakgen Limited grouping built around Nishat Mills, Nishat Power, Nishat Chunian, Lalpir, Pak Elektron and Kohinoor Energy, while Maple Leaf Cement and Kohinoor Textile also made the list.

The prequalified parties will now move to the next stage, which gives them access to a virtual data room for detailed due diligence. Separately, NEPRA notified the Performance Standards (Distribution) Regulations 2026 earlier this week, making consumer compensation mandatory for the first time and adding heavy fines when Discos miss strict deadlines for restoring power or other services. The deadline for expression of interest submissions for Iesco has been extended to September 21, 2026.