Kohat Cement joins FESCO privatization

Kohat Cement Company has told the Pakistan Stock Exchange that it is part of a consortium seeking a controlling position in Faisalabad Electric Supply Company, known as FESCO, through the government's privatization drive. According to Mettis Global, the group also includes Hub Power Holdings, Lucky Cement and Metro Ventures (Private) Limited. The consortium has filed an Expression of Interest and a Statement of Qualification covering a 51% to 100% equity holding along with management control.

The Privatisation Commission has placed the consortium and other interested parties on a shortlist to carry out due diligence on the power distributor. The next stage will assess FESCO's finances, technical operations, legal matters and overall commercial viability. Under the applicable framework, the stake will ultimately be offered through competitive bidding.

Kohat Cement has made clear that the development creates no binding obligation for itself or its partners to buy FESCO. Any such step would come only once due diligence ends, all necessary corporate and regulatory clearances are secured, and the deal is judged commercially viable. For now, the company's role is limited to evaluating the opportunity and conducting due diligence.