ISLAMABAD: The Privatisation Commission (PC) on Friday said it received an overwhelming response from domestic and international investors for acquiring Gujranwala Electric Power Company (Gepco).
“Today, on the closing date for submission of Expressions of Interest, the commission has received EoIs from 11 prospective investors seeking to acquire 51 to 100pc shareholding in Gepco together with management control,” the PC announced.
The interested parties include investors from Türkiye and Saudi Arabia, as well as several leading local business groups, the PC said. Most of the investor groups that submitted EoIs for Gepco had already done so for Faisalabad Electric Supply Company (Fesco) earlier this month, and those submissions are currently under review.
Of the 11, four EoIs have come from foreign investors — three from Türkiye and one from Saudi Arabia — and seven from local business groups.
11 EoIs received from Turkish, Saudi and local groups to buy power firm
The EoIs for Gepco have come from three Turkish firms, who have also expressed interest in Fesco. They include Aktor Elektrik Enerji Yatrmlar San. ve Tic. A.S, Genvera Enerji A.S and Cengiz Enerji Sanayii ve Ticaret A.S.
Unlike Fesco, Gepco did not attract any Chinese investor, but instead a Saudi investor, ‘Al Sharif Contracting and Commercial Development Company, has submitted an EoI.
The local parties for Gepco, include Engro Energy Ltd, Sapphire Fibres Ltd, Hub Power Holdings and Lucky Cement, Shirazi Investments (Pvt) Ltd, Artistic Milliners (Pvt) Ltd and Fatima Group (the new buyers of PIA), K-Electric Ltd and AKD Securities, Fast Cable and Mughal Steel Group. Except AKD consortium, all of these bidders would be simultaneously competing for Fesco as well.
Three groups that submitted EoI for Fesco did not show interest in Gepco, namely Maple Leaf Cement, Kohinoor Textile, Nishat Mills Ltd and Pak Elektron Ltd.
The Privatisation Commission welcomed the investor community’s extensive engagement during the domestic and international roadshows in the past six months and their confidence in Pakistan’s power-sector reform agenda.
“Today marks another important achievement in the privatisation of Discos. The strong response for Gepco is indicative of investor confidence in the potential of Pakistan’s electricity distribution sector and in the Government’s commitment to a transparent, competitive and professionally managed process,” said Muhammad Ali, Adviser to the Prime Minister on Privatisation and Chairman, Privatisation Commission.
The Privatisation Commission said it would engage constructively with the prequalified investors during the due diligence phase and discuss the contours of the post-privatisation regime.
This privatisation aims to improve operational efficiency, modernise distribution infrastructure, strengthen customer service, reduce losses and support a more financially sustainable power sector, it said. In the long run, these measures will help create the conditions for more competitive electricity distribution and affordable, reliable power for consumers, Mr Ali said.
The EoIs and Statements of Qualification will now undergo a comprehensive evaluation against the approved prequalification criteria. Applicants who meet the prescribed requirements will be prequalified and invited to the next stage of the transaction, where they will be granted access to the Virtual Data Room to conduct detailed buy-side due diligence.
Published in Dawn, August 22nd, 2026
