Nishat Mills Joins Consortium to get FESCO
LAHORE: Nishat Mills Limited has announced its participation as a consortium member in the privatization process of Faisalabad Electric Supply Company (FESCO), following approval from its Board of Directors.
According to a corporate disclosure at PSX Website, Nishat Mills obtained a Request for Statement of Qualification (RSOQ) issued by the Privatization Commission for the proposed divestment of FESCO.
The company has joined a consortium comprising Pakgen Limited, Lalpir Limited, Nishat Power Limited, Nishat Chunian Power Limited, Kohinoor Energy Limited, and Pak Elektron Limited.
The company has authorized Pakgen Limited, the lead consortium member, to represent the group and conduct necessary business on behalf of the consortium during the privatization process.
Nishat Mills said it has not undertaken any binding obligation regarding the transaction at this stage, which remains subject to pre-qualification by the Privatization Commission and completion of all required corporate and regulatory approvals.
The consortium brings together companies with experience in power generation, manufacturing, and industrial operations, reflecting growing private sector interest in Pakistan’s electricity distribution sector. FESCO, which serves a large consumer base in central Punjab, is considered one of the country’s major electricity distribution companies.
The proposed investment is subject to successful pre-qualification by the Privatization Commission, completion of due diligence, and receipt of all necessary corporate and regulatory approvals, the notice added.
Pakistan’s government has been pursuing privatization initiatives to improve efficiency, attract investment, and enhance performance in state-owned enterprises, particularly in the power sector.
Market observers view participation by established private sector groups such as Nishat Mills and its consortium partners as a sign of increasing investor appetite for opportunities in Pakistan’s energy landscape. However, the final outcome of the FESCO transaction will depend on regulatory approvals, qualification criteria, and the competitive bidding process.
Nishat Group’s involvement in the Pakistan International Airlines (PIA) privatization process was mainly through initial interest or participation discussions around potential bidders, but Nishat Mills did not become a member of the final successful bidding consortium.
About The Author
