- August 6, 2026
- Posted by: Tresmark
- Category:
PAK Elektron Limited (PAEL) has announced its participation in a consortium formed to bid for the privatisation of Faisalabad Electric Supply Company (FESCO), following approval by its Board of Directors.
In a notice to the Pakistan Stock Exchange (PSX) on Thursday, the company said it obtained the Request for Statement of Qualification (RSOQ) issued by the Privatisation Commission for the proposed divestment of FESCO through privatisation.
PAEL said it is part of a consortium comprising Pakgen Limited, Lalpir Limited, Nishat Power Limited, Nishat Chunian Power Limited, Nishat Mills Limited, Kohinoor Energy Limited, and PAK Elektron Limited.
The company has appointed Pakgen Limited as the Lead Consortium Member, authorising it to represent the consortium and conduct all business related to the privatisation process before the Privatisation Commission.
PAEL clarified that it has not assumed any binding obligation in relation to the transaction at this stage. The proposed acquisition remains subject to pre-qualification by the Privatisation Commission, as well as all required corporate and regulatory approvals.
The company said it will keep the PSX informed of any further material developments regarding the transaction.
