The IESCO Privatisation process has moved forward after the Privatisation Commission Board approved 10 local and international parties to participate in the bidding process for Islamabad Electric Supply Company. The prequalified investors include companies from Pakistan, Türkiye and Saudi Arabia, according to the announcement. Three Turkish energy firms — Aktor Electric, Genvera Energy and Cengiz Energy — have qualified for the next stage. Other eligible companies include Engro Energy, Novatex, Sapphire Fibres and Bestway Cement. Consortia led by Artistic Milliners, Hub Power and Hasnat Brothers Construction have also been prequalified. All 10 parties will receive access to a virtual data room, where they can review detailed information about IESCO before proceeding to the next stages of the process. The prequalification is an initial step and does not mean that the company has been sold. Interested parties will need to conduct further assessments before the bidding process can advance towards a possible transaction. Russia Ukraine War: Russian strikes kill four as Kyiv faces missile barrage IESCO is one of three power distribution companies included in the first batch of the government’s privatisation programme. The other two are Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO). The board has also approved the addition of new members to the Artistic Milliners-led consortium involved in the FESCO privatisation process. Following the approval, the consortium will be eligible to participate in the privatisation of all distribution companies included in Batch One. The government aims to attract private investment and improve operational efficiency across the power distribution sector. The process is expected to include detailed assessments of the companies’ financial positions, assets, operations and commercial prospects before bidders submit their proposals. In a separate decision, the Privatisation Commission Board approved changes to the transaction structure and restructuring plan for the proposed privatisation of Zarai Taraqiati Bank Limited (ZTBL). The board said ZTBL would continue to focus on agricultural financing and support for farmers after privatisation, retaining its role in providing financial services to agriculture-related businesses. The board also approved a consortium led by Deutsche Bank as financial adviser for the proposed privatisation of the State Life Insurance Corporation of Pakistan. A committee has been formed to finalise the agreement with the adviser and advance work on the transaction. The Privatisation Commission said it remained committed to conducting the programme transparently and competitively, with professional oversight. Post navigation US Dollar Greenback stays under pressure as Treasury yields and oil prices fall
