ISLAMABAD (Special Correspondent) – The Privatisation Commission (PC) Board, in its 260th meeting held on 22 October 2026 under the chairmanship of Mr. Muhammad Ali, Adviser to the Prime Minister on Privatisation, has approved significant measures to advance the divestment of major state entities, including electricity distribution companies and financial institutions. The Board confirmed the prequalification of ten parties for the privatisation of Islamabad Electric Supply Company Limited (IESCO), marking a critical step in the government’s economic reform agenda as detailed in reports regarding Muhammad Ali Urges Sustainable Growth Through Agriculture Textiles And IT.

Prequalification for IESCO Privatisation

• The Board prequalified 10 Interested Parties for the IESCO transaction.
• Successful bidders include three Turkish energy firms and major Pakistani industrial groups.
• The process allows prequalified entities immediate access to the Virtual Data Room for due diligence.
• Artistic Milliners (Pvt) Limited received approval to add consortium members for FESCO privatisation.
• The Board selected a Deutsche Bank-led consortium as the financial adviser for State Life Insurance Corporation of Pakistan.

The ten prequalified entities for the IESCO transaction are Aktor Elektrik Enerji Yatirimlari San. ve Tic. A.S., Genvera Enerji A.S., Cengiz Enerji Sanayii ve Ticaret A.S., Engro Energy Limited, Artistic Milliners (Pvt) Limited Consortium, Hub Power Holding Limited Consortium, Sapphire Fibers Limited, Novatex Limited, Bestway Cement Limited, and Hasnaat Brothers Construction Co. (Pvt) Limited Consortium. These parties will now initiate detailed buy-side due diligence.

Strategic Privatisation of ZTBL and SLIC

The Privatisation Commission Board also approved structural modifications for the Zarai Taraqiati Bank Limited (ZTBL) to ensure the institution maintains its core mandate of supporting agricultural and farmer financing post-divestment. This alignment with government objectives reflects a broader focus on sector-specific reforms similar to those discussed in recent Minister Qaiser Ahmed Sheikh Calls for Regional Trade Investment Reforms. Regarding the State Life Insurance Corporation of Pakistan (SLIC), the Board formalised the selection of a consortium led by Deutsche Bank as the primary financial adviser. A negotiation committee has been established to finalise the Financial Advisory Services Agreement (FASA). Through these transparent and competitive processes, the government aims to enhance operational efficiency and maximize long-term fiscal value for the country, consistent with the broader strategic priorities recently outlined in Ambassador Sheikh Pivots Pakistan-US Ties Toward Advanced Technological Cooperation.

Frequently Asked Questions

Which entities are eligible for IESCO bidding?

Ten interested parties, including three Turkish firms and prominent Pakistani business groups like Engro Energy Limited and Sapphire Fibers Limited, have been prequalified.

What is the status of the ZTBL privatisation?

The Board has approved modifications to the transaction structure and restructuring plan to ensure ZTBL continues to focus on agricultural and farmer financing after its privatisation.