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The Privatization Commission of Pakistan has prequalified 10 domestic and international investors for the planned sale of Islamabad Electric Supply Company (IESCO).<\/strong><\/p>\n The decision was taken at the commission\u2019s 260th board meeting, chaired by Muhammad Ali, the prime minister\u2019s adviser on privatization.<\/p>\n The shortlisted parties include three Turkish energy companies and several prominent Pakistani business groups and investment consortia.<\/p>\n The successful applicants will move to the next stage of the process, gaining access to a virtual data room to carry out detailed due diligence on IESCO before proceeding further with the transaction.<\/p>\n The 10 prequalified interested parties are:<\/p>\n The commission said the participation of domestic and international investors reflected interest in Pakistan\u2019s electricity distribution sector.<\/p>\n IESCO is among the first group of power distribution companies identified for privatization, alongside Faisalabad Electric Supply Company (FESCO) and Gujranwala Electric Power Company (GEPCO).<\/p>\n In the meeting, the board also approved the addition of members to the Artistic Milliners consortium, which has already qualified for the FESCO transaction.<\/p>\n The move is intended to facilitate the consortium\u2019s participation across the first batch of distribution company sales, subject to the relevant transaction requirements.<\/p>\n The government has been pursuing the privatization of state-owned enterprises as part of efforts to improve operational efficiency, service delivery and the management of public assets.<\/p>\n The board also approved changes to the transaction structure and restructuring plan for Zarai Taraqiati Bank Limited (ZTBL).<\/p>\n According to the commission, the revisions follow directions from the prime minister to ensure that the bank retains its focus on agricultural lending and financing for farmers after privatization.<\/p>\n ZTBL plays a role in providing financial support to Pakistan\u2019s agricultural sector, making the continuation of its lending mandate a key consideration in the proposed transaction.<\/p>\n In a separate decision, the board selected a consortium led by Deutsche Bank as the top-ranked bidder for the role of financial adviser to the privatization of State Life Insurance Corporation of Pakistan (SLIC).<\/p>\n A negotiation committee has been formed to finalize the Financial Advisory Services Agreement with the consortium.<\/p>\n The appointment is a step towards preparing the transaction, although it does not itself mean that State Life has been privatized.<\/p>\n The Privatization Commission said it remained committed to conducting transactions through transparent and competitive processes, with the aim of attracting investment and securing value for the government and the public.<\/p>\n<\/div>\n\n
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