EoI date for Iesco extended

Dawn reported that the Privatisation Commission (PC) has moved the deadline for expressions of interest in acquiring the Islamabad Electric Supply Company (Iesco) to Sept 21 from Sept 7. The commission said the change is intended to draw in both domestic and foreign investors and widen the range of participants in the sale.

Under the government's privatisation plan, private investors would take a stake of 51 to 100 per cent along with management control in three power distributors. The three companies named are Faisalabad Electric Supply Company, Gujranwala Electric Power Company and Iesco.

The commission said the extra time would let prospective investors complete due diligence before filing their EoIs. It also confirmed that all other terms of the EoI process remain unchanged, and that the extension supports a more competitive and transparent sale.