ISLAMABAD, Feb 10: The Privatization Commission (PC) here on Monday extended the last date for receiving Expressions of Interest from qualified strategic investors for transfer of the management control of Faisalabad Electric Supply Company (FESCO) through acquiring 56pc interest of the company by March 31, 2003.

According to a PC announcement, the date has been extended on the request of various parties to ensure maximum participation.

Expressions of Interest (EOI) have been invited from the interested parties/consortia. A Request for Statement of Qualification will be sent to those who will submit their EOIs. Parties who have already been provided with the RSOQ need not submit a fresh EOI. An early submission of EOI will allow maximum time for interested parties to prepare their RSOQ.

Faisalabad Electric Supply Company (Fesco) is one of the electricity distribution companies created out of unbundling of the Power Wing of Pakistan’s Water & Power Development Authority (Wapda). The company incorporated in 1998 as a public limited company serves approximately 1.8 million consumers of various categories spread over the central Punjab region of Pakistan. International Finance Corporation (IFC) is the Financial Adviser for this transaction.

PC had earlier invited parties for appointment as Financial Advisory Consortium (FA) to assist the Government of Pakistan in privatizing Peshawar Electric Supply Company (PESCO).