The Privatisation Commission (PC) has received 10 statements of qualification (SoQs) from strategic investors or consortia of strategic/financial investors interested in acquiring 56 percent interest in Faisalabad Electric Supply Company (FESCO).
The management in view of improvements in the transaction structure, which included three pre-qualified parties FESCO is one of the best distribution companies offered for privatisation. The commission had invited fresh EoIs on February 22.
The fresh SoQs have been received from consortium of Noor Financial Investment Company (Kuwait) and National Industries Group (Holding) Kuwait, Sapphire Group (Pakistan) comprising Sapphire Fibers Limited, Sapphire Textile Mills Limited and Diamond Fabric Limited, Consortium of Azard-9 Limited and Jahangir Siddiqui and Company Limited (Pakistan), Consortium of Pak Elektron Limited (Pakistan), Burhan Oils Services (Kuwait) and AKD Securities (Pakistan, consortium of Orient Power Company Limited, National Logistic Cell and Pak Oman Investment Company Limited (Pakistan), consortium of Crescent Power Tek Limited, Nishat Group while three already pre-qualified parties, which have reaffirmed their interest in the transaction included Consortium of Rupali Polyester Limited (Pakistan) including Rupali Polyester Limited, Rupafil Limited, Spintex Limited and Rupali Naylon (Pvt) Limited, National Power Generation and Supply Company (Pakistan) and Consortium of UBL and AES.
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