Government allows additional time for investors to complete due diligence under the first phase of the DISCOs privatization programme.
ISLAMABAD: The Privatization Commission has extended the deadline for submitting Expressions of Interest (EOIs) for the privatization of Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO), giving prospective investors additional time to finalize their proposals.
The revised schedule, announced on Wednesday, is part of the government’s ongoing Batch-I Distribution Companies (DISCOs) privatization programme. Under the updated timeline, interested investors can submit EOIs for FESCO until August 7, 2026, while the deadline for GEPCO has been extended to August 21, 2026.
However, the timeline for the privatization of Islamabad Electric Supply Company (IESCO) remains unchanged. Interested bidders are required to submit their EOIs by September 7, 2026, according to the Privatization Commission.
Extension Aims to Encourage Wider Investor Participation
The commission said the extension was approved after several potential investors sought additional time to complete internal assessments, conduct due diligence, and prepare detailed submissions for participation in the bidding process.
By granting more time, the government aims to encourage stronger participation from qualified domestic and international investors interested in acquiring stakes in Pakistan’s electricity distribution sector.
Government Offers Majority Stakes with Management Control
As part of its broader economic reform agenda, the federal government plans to privatize the first batch of power distribution companies by offering 51% to 100% ownership, along with management control, to successful strategic investors.
Officials believe the move will help improve the operational performance of distribution companies, reduce technical and commercial losses, strengthen corporate governance, and enhance electricity services for consumers across the country.
Transparent Privatization Process
The Privatization Commission reiterated its commitment to ensuring that the privatization process remains transparent, competitive, and investor-friendly. The initiative is intended to attract experienced strategic investors capable of modernizing Pakistan’s power distribution network and improving long-term sector efficiency.
Interested investors can obtain further details and bidding documents from the Privatization Commission or its financial adviser, Alvarez & Marsal Middle East Limited. EOIs must be submitted within the revised deadlines to be considered for the next stage of the privatization process.
