A Nishat Group-led consortium comprising seven listed companies has entered the race for the privatization of Faisalabad Electric Supply Company (FESCO) after obtaining the Request for Statement of Qualification (RSOQ) from the Privatisation Commission.

In separate notifications submitted to the Pakistan Stock Exchange (PSX), Pak Elektron Limited (PEL), Pakgen Limited, Lalpir Limited, Nishat Power Limited, Nishat Chunian Power Limited, Nishat Mills Limited, and Kohinoor Energy Limited confirmed that their respective boards have approved participation in the consortium to pursue the proposed transaction.

The consortium has appointed Pakgen Limited as the Lead Consortium Member, granting it irrevocable authority to represent all seven members throughout the privatization process. The appointment also allows Pakgen's authorized representative to conduct business on behalf of the consortium, including delegated authority where required.

The consortium combines Nishat Group's key industrial and power sector companies alongside Pak Elektron Limited (PEL) and Kohinoor Energy Limited, both listed on the PSX.

All participating companies clarified that no binding obligation has been undertaken regarding the proposed acquisition at this stage. Their participation remains subject to pre-qualification by the Privatisation Commission and all necessary corporate and regulatory approvals.

The companies also stated they will continue to keep the Pakistan Stock Exchange informed of any material developments related to the privatization process.

FESCO is considered one of Pakistan's relatively stronger electricity distribution companies (DISCOs), serving Faisalabad and surrounding industrial regions. Its privatization forms part of the government's broader reform agenda aimed at improving the efficiency and financial sustainability of the country's power distribution sector.

The consortium has not disclosed any bid value, transaction structure, or expected timeline, with further details expected as the privatization process progresses.