Nine parties prequalify for Gepco

Dawn reported that the Privatisation Commission board has cleared nine parties for the next phase of the planned sale of Gujranwala Electric Power Company (Gepco). The board met on Monday under the chair of Muhammad Ali, the Adviser to the Prime Minister on Privatisation. Members were told that 11 expressions of interest had been received for a stake of 51 per cent to 100 per cent, together with management control.

Following an assessment against the approved criteria, the financial adviser put forward nine parties for prequalification, moving them toward the next stage. Three of the selected groups are Turkish energy companies, while the rest include leading Pakistani business houses and investment consortia. According to the press release, the nine will be given Virtual Data Room access for in-depth buy-side checks.