Summary Pakistan’s Privatisation Commission has prequalified nine companies to bid for a 51%-100% stake and management control of GEPCO.
ISLAMABAD (Dunya News) – The Privatisation Commission Board has prequalified nine companies for the transfer of 51% to 100% shares and management control of Gujranwala Electric Power Company (GEPCO).
The decision was taken at a meeting of the Privatisation Commission Board chaired by Prime Minister’s Adviser Muhammad Ali, where progress on the privatisation of GEPCO and other state-owned entities was reviewed.
The board received 11 applications for GEPCO’s privatisation, of which nine companies successfully qualified for the next stage.
The prequalified bidders include Türkiye-based Aktor Electric, Genvira Energy and Cengiz Energy, along with Pakistan-based Engro Energy, Hub Power, Sapphire, Shirazi Investments, Artistic Milliners and AKD Securities.
K-Electric formally withdrew its application from the bidding process, while Al-Sharif Contracting failed to provide the required documents.
According to the Privatisation Commission, the nine prequalified companies will soon begin the due diligence process through a virtual data room.
The meeting also reviewed progress on the outsourcing of Islamabad, Karachi and Lahore airports. The board approved the reconstitution of the negotiating committee for the outsourcing of the three major airports.
The board also decided to accelerate the privatisation process for Zarai Taraqiati Bank Limited (ZTBL) and the House Building Finance Company Limited (HBFCL), directing transaction advisers to fast-track the process.
The Privatisation Commission spokesperson said all privatisation transactions would be completed in a transparent, competitive and professional manner.
