Lalpir joins consortium for FESCO privatisation bid

Lalpir Limited has announced that it has joined a consortium formed to participate in the privatisation of Faisalabad Electric Supply Company (FESCO), following the Privatisation Commission's approval of the consortium's participation in the transaction.

 

In a notice to the Pakistan Stock Exchange (PSX) on Thursday, the company said it received the Request for Statement of Qualification (RSOQ) from the Privatisation Commission, inviting it to participate in the divestment of FESCO through privatisation.

 

Lalpir said it has irrevocably nominated, appointed and authorised Pakgen Limited, a consortium member, to act as the Lead Consortium Member and represent the consortium before the Privatisation Commission during the pre-qualification process.

 

The consortium comprises Nishat Power Limited, Nishat Chunian Power Limited, Kohinoor Energy Limited, Pak Elektron Limited (PAEL), Lalpir Limited, and Pak Gen Power Limited.

 

The company clarified that it has not assumed any binding obligation regarding the transaction at this stage. The proposed acquisition remains subject to the consortium's pre-qualification by the Privatisation Commission, as well as the completion of all required corporate and regulatory approvals.

 

Lalpir added that it will keep the exchange informed of any further material developments related to the transaction.