The Privatisation Commission Board prequalified 10 companies and business groups for the sale of the Islamabad Electric Supply Company (IESCO) during its 260th meeting. The shortlist includes three Turkish energy firms, namely Aktor Elektrik, Genvera Enerji, and Cengiz Enerji.
Several prominent Pakistani business groups also qualified, including Engro Energy, Sapphire Fibers, Novatex, and Bestway Cement. Other participants include Artistic Milliners and its consortium partners, Hub Power Holding and its consortium partners, and a group led by Hasnaat Brothers Construction.
IESCO is being prepared for sale as part of an initial batch of power distribution companies that also includes Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO). The board also authorised the addition of consortium members to Artistic Milliners for the FESCO privatisation process.
Changes to the restructuring plan and privatisation structure for Zarai Taraqiati Bank Limited (ZTBL) received approval during the same meeting. For the State Life Insurance Corporation of Pakistan, the board chose a consortium led by Deutsche Bank as the highest-ranked candidate to act as financial adviser.
A negotiation committee has been established to conclude the Financial Advisory Services Agreement with that consortium.
