ISLAMABAD: The Privatisation Commission Board on Monday, October 5, 2026, approved nine interested parties for the next stage of the Gujranwala Electric Power Company privatisation process, while also advancing transactions in the aviation and financial sectors.
The decision was taken at the board’s 259th meeting, chaired by Adviser to the Prime Minister on Privatisation and Privatisation Commission Chairman Muhammad Ali.
The board was informed that 11 Expressions of Interest had been received for the acquisition of between 51% and 100% shareholding in GEPCO along with management control.
After evaluating the submissions against the approved prequalification criteria, the financial adviser recommended nine interested parties for progression to the next stage.
The prequalified bidders are:
- Aktor Elektrik Enerji Yatirimlari San. Ve Tic. A.S.
- Genvera Enerji A.S.
- Cengiz Enerji Sanayii Ve Ticaret A.S.
- Engro Energy Limited
- Sapphire Fibers Limited
- Hub Power Holdings Consortium
- Shirazi Investments (Pvt.) Limited Consortium
- Artistic Milliners (Pvt.) Limited Consortium
- AKD Securities Consortium
The list includes three Turkish energy companies as well as major Pakistani business groups and investment consortia.
The Privatisation Commission said the participation reflected continued domestic and international investor interest in Pakistan’s electricity distribution sector.
K-Electric formally withdrew its Expression of Interest through written communication to the commission, while Al Sharif Contracting & Commercial Development Co. Ltd. did not provide the documents required under the Request for Statement of Qualification.
The nine prequalified parties will now move to the next stage of the transaction, including access to the Virtual Data Room for detailed buy-side due diligence.
Airport Outsourcing Process Also Moves Forward
The board also considered reconstituting the Negotiation Committee for the outsourcing or concession of Allama Iqbal International Airport in Lahore, Jinnah International Airport in Karachi and Islamabad International Airport.
The step forms part of the commission’s ongoing efforts to move the airport outsourcing programme forward through a structured transaction process.
HBFCL, ZTBL Privatisation to Be Fast-Tracked
The board also reviewed progress on major financial-sector transactions and advised transaction advisers to accelerate the privatisation processes for House Building Finance Company Limited and Zarai Taraqiati Bank Limited.
The commission said the objective was to ensure timely progress on both transactions.
The board reaffirmed its commitment to carrying forward the government’s privatisation programme through transparent and competitive transactions aimed at attracting domestic and international investment, improving efficiency and service delivery, and maximising value for the government and the public.