ISLAMABAD: Three Turkish firms are among 10 investors prequalified by the Privatisation Commission (PC) Board for IESCO’s privatisation, as the Board also approved transaction-related measures to advance the sale processes of FESCO, ZTBL and State Life Insurance Corporation.
The decisions were taken at the PC Board’s 260th meeting on October 22, 2026, chaired by Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman of the Privatisation Commission.
The three Turkish firms prequalified for the Islamabad Electric Supply Company (IESCO) transaction are Aktor Elektrik Enerji Yatirimlari San. ve Tic. A.S., Genvera Enerji A.S. and Cengiz Enerji Sanayii ve Ticaret A.S.
Other prequalified investors include Engro Energy, Sapphire Fibers, Novatex and Bestway Cement, along with three consortia led by Artistic Milliners, Hub Power Holding and Hasnaat Brothers.
The Artistic Milliners-led consortium comprises Lake City Holdings, Fatima Capital, Din Ventures and Fazal Cloth Mills. The consortium led by Hub Power Holding includes Lucky Cement, Kohat Cement and Metro Ventures, while the Hasnaat Brothers-led consortium comprises Dhilal Holding Group, Pak Steel, Bio-Labs and Farid Steel Casting.
The prequalification marks a key step in the IESCO privatisation process, which aims to attract private-sector investment and transfer management control to improve operational efficiency and service delivery. The prequalified parties are expected to proceed to the due diligence stage through the Virtual Data Room under the prescribed transaction process.
IESCO is among the electricity distribution companies being considered for privatisation as part of the broader effort to improve the performance of the power distribution sector and reduce the burden of inefficiencies on the national economy.
For Faisalabad Electric Supply Company (FESCO), the PC Board approved transaction-related measures to move the privatisation process forward.
The Board also considered the proposed privatisation of Zarai Taraqiati Bank Limited (ZTBL), a key institution in agricultural financing, and State Life Insurance Corporation of Pakistan (SLIC), approving measures related to their respective transactions.
The decisions reflect progress on privatisation initiatives across the power distribution, banking and insurance sectors. The prequalification of 10 investors for IESCO brings the transaction closer to the next stage, while the measures for FESCO, ZTBL and SLIC seek to advance their respective processes.
Tags: Privatisation Commission, IESCO privatisation, Turkish investors, Aktor Elektrik, Genvera Enerji, Cengiz Enerji, Engro Energy, Sapphire Fibers, Novatex, Bestway Cement, Artistic Milliners, Hub Power Holding, Hasnaat Brothers, FESCO, ZTBL, State Life Insurance, Pakistan privatisation, power sector, foreign investment, Pakistan economy,