Privatisation Commission prequalifies 10 parties for IESCO

Pakistan’s Privatisation Commission Board has approved 10 parties to proceed in the sale process for Islamabad Electric Supply Company (IESCO), Mettis Global reported on October 23, 2026. The shortlisted group includes three Turkish companies, Engro Energy, Sapphire Fibers, Novatex and Bestway Cement, as well as three consortia. The parties will enter the next stage, which includes access to a virtual data room for due diligence.

Among the consortium members are Fazal Cloth Mills, Lucky Cement and Kohat Cement, while Bestway Cement is prequalified as a standalone participant. The Board also approved adding members to the Artistic Milliners consortium for the Faisalabad Electric Supply Company process, revised the restructuring plan for Zarai Taraqiati Bank, and selected a Deutsche Bank-led group as the top-ranked financial adviser for State Life Insurance Corporation. IESCO is included in the first batch of distribution companies being considered for privatisation, alongside FESCO and GEPCO.