The privatisation of Pakistan's distribution companies has progressed to a new phase following the closure of the expression of interest (EOI) window for the Faisalabad Electric Supply Company (FESCO).
The submission deadline has passed, marking a concrete step in the government's broader strategy to offload state-owned utility assets.
According to The Nation, the Pakistan Privatisation Commission received 12 EOIs from prospective investors seeking a controlling stake in FESCO.
The pool of bidders reportedly includes three firms, indicating a competitive field for one of the country's largest electricity distributors.
This development follows earlier reports that the commission had already gathered significant interest from both domestic and international players.
The FESCO sale is a critical test case for the wider privatisation programme.