Ten business groups and companies received prequalification status from the Privatization Commission Board to join the privatization process for Islamabad Electric Supply Company, advancing the utility toward the upcoming phase of its sale.
Privatization Adviser Muhammad Ali led the 260th meeting of the board on Thursday where officials made this choice.
Several large Pakistani business entities and three Turkish energy firms make up the list of approved applicants.
These candidates gain permission to view the Virtual Data Room to inspect thorough data concerning IESCO ahead of the following transaction phase.
Aktor Elektrik, Genvera Enerji, Cengiz Enerji, Engro Energy, Artistic Milliners and its consortium partners, Hub Power Holding and its consortium partners, Sapphire Fibers, Novatex, Bestway Cement, and a consortium led by Hasnaat Brothers Construction form the group of prequalified parties.
GEPCO and FESCO belong to the same initial group of power distribution companies scheduled for privatization alongside IESCO.
During the same session, the board cleared the inclusion of consortium members for Artistic Milliners to take part in the FESCO privatization procedure.
Modifications to the restructuring plan and privatization framework for Zarai Taraqiati Bank Limited also received board approval.
In a separate decision, a consortium headed by Deutsche Bank emerged as the top-ranked candidate for financial adviser regarding the privatization of State Life Insurance Corporation of Pakistan.
Authorities established a negotiation committee to conclude the Financial Advisory Services Agreement alongside the consortium.
