PC Receives Strong Interest for Iesco Sell-Off

News Desk
ISLAMABAD: The Privatisation Commission announced on Monday that it has secured an overwhelming response from both domestic and international investors for the much-anticipated privatisation of the Islamabad Electric Supply Company (Iesco). The development marks a significant step forward in the government’s broader economic reform and state-owned enterprise restructuring agenda aimed at curbing persistent fiscal leakages in the power sector.
According to the official statement issued by the commission, expressions of interest (EOIs) have been formally received from three prominent Turkish investors alongside seven local prospective entities.
These potential buyers are vying to acquire a substantial stake ranging from 51 percent to 100 percent of Iesco’s shareholding, which will include the transfer of complete management control.
Among the notable international participants is Aktor Elektrik Enerji from Turkey, underlining foreign confidence in the country’s utility sector reforms.
Iesco stands as a critical component of the first batch of power distribution companies—collectively known as Discos Batch-I—which also includes the Faisalabad Electric Supply Company (Fesco) and the Gujranwala Electric Power Company (Gepco). Successful offloading of these distribution companies is viewed by economic analysts and international financial institutions as vital to alleviating the staggering circular debt burden that continues to strain Pakistan’s macroeconomic stability and national exchequer.
Following this initial phase of receiving expressions of interest, the Privatisation Commission is expected to scrutinize the credentials of the shortlisted bidders and move forward with the transaction structure. Subsequent phases will involve detailed financial due diligence, the issuance of request for proposals (RFPs), and eventual bidding, marking a definitive shift toward private sector participation in power distribution.