Pakgen Power Limited (PKGP) was incorporated in Pakistan in 1995 with the registered head office company in Lahore. The principal activities of the power company are to own, operate and maintain an oil fired power station having gross capacity of 365 MW in Mehmood Kot, Muzaffargarh, Punjab, Pakistan. The shares of the Company are listed on the Karachi Stock Exchange and Lahore Stock Exchange.

The firm was formerly known as AES Pak Gen Company Limited. The name of the company was also changed from AES Pak Gen (Private) Company to Pakgen Power Limited in November 2010. In June 2010, the Company was acquired by a consortium of Pakistani businessmen comprising of Nishat Mills Limited, Adamjee Insurance Company Limited, Security General Insurance Company Limited, Mian Hassan Mansha, City School Group and Abu Dhabi Investment Council. The Company under the new management was converted from a Private unlimited liability company to a Public Company limited by shares in July 2010.

Major shareholders of the company as on December 31, 2015 include Nishat Mills Limited (27.55 percent), Engen (Private) Limited (17.22 percent) and Adamjee Insurance Company Limited (6.89 percent). The Company originally started its commercial operations in February 1998. The electricity generated is purchased by WAPDA under the Power Purchase Agreement (PPA) executed with the company on September 05, 1995 which is valid for a period of 30 years.

PKGP Investments

In 2015, The directors carried out their due diligence and approved investment in Lalpir Solar Power (Private) Limited, a wholly owned subsidiary of Nishat Power Limited, for over 20 percent equity shareholding. The purpose disclosed was to earn dividend income as well as prospective capital gains. The principal activity of LSPL will be to build, own, operate and maintain or invest in a solar power project having gross capacity up to 20 MW with net estimated generation capacity of approximately 19 MW at project site located at Mehmood Kot, Dist. Muzaffargarh.