The Privatisation Commission Board has approved nine bidders for the privatisation of the Gujranwala Electric Power Company (GEPCO), allowing these candidates to advance to the subsequent phase of the process. This decision was made during the 259th meeting of the Privatisation Commission Board, chaired by Muhammad Ali in Islamabad.
The government had initially received 11 expressions of interest from parties aiming to acquire between 51 and 100 percent of GEPCO’s shares along with management control. After a thorough evaluation, the financial adviser recommended nine bidders for prequalification, which the board subsequently endorsed.
Among the prequalified entities are three Turkish energy firms alongside notable Pakistani business groups and investment consortia. The list includes Aktor Energy, Genvera Energy, Cengiz Energy, Engro Energy, and Sapphire Fibres. Additionally, consortia comprising Hub Power Holdings, Shirazi Investments, Artistic Milliners, and AKD Securities have also been prequalified.
During the meeting, it was noted that K-Electric formally withdrew its expression of interest, while Al-Sharif Contracting and Commercial Development failed to submit the necessary documentation and was thus excluded from prequalification.
The nine successful companies will now be granted access to a virtual data room to conduct detailed due diligence on GEPCO as part of the next stage in the privatisation process.
Meanwhile, the board also discussed restructuring the negotiating committee responsible for the outsourcing and concession agreements of the Lahore, Karachi, and Islamabad international airports.
Progress on the privatisation of two financial-sector entities—the House Building Finance Company Limited (HBFCL) and the Zarai Taraqiati Bank Limited (ZTBL)—was reviewed. Transaction advisers were instructed to accelerate the privatisation efforts of these institutions.
The board reaffirmed the government’s dedication to attracting both domestic and foreign investment through transparent, competitive, and professional privatisation processes. The overarching goal of the government’s privatisation programme is to enhance efficiency and service delivery while securing maximum value for both the government and the public.
Leave an opinion