The Gepco privatisation process has attracted 11 prospective investors, including two new entrants, as the government moves ahead with plans to sell a majority stake and management control in the electricity distributor.

The Privatisation Commission said it received Expressions of Interest (EOIs) from 11 domestic and international investors by the August 2026 deadline. The bidders are seeking to acquire between 51% and 100% of Gepco along with management control.

The response comes as the government prepares to privatise selected electricity distribution companies. However, most of the investors interested in Gepco had already entered the race for Faisalabad Electric Supply Company (Fesco).

Two New Investors Enter the Race

Among the new participants are Saudi Arabia-based Al Sharif Contracting and Commercial Development Company and a Pakistani consortium involving AKD Securities, Fast Cables and Mughal Steel Group.

The remaining nine prospective investors had previously submitted documents for Fesco.

Under the government’s revised bidding rules, an investor that qualifies technically and financially for one distribution company can also bid for two other companies.

The rule has expanded the apparent number of bidders across the privatisation process. However, the overall investor pool remains largely unchanged.

Major Business Groups Show Interest

Several prominent international and Pakistani companies are competing for the electricity distribution assets.

Three Turkish companies are among the bidders. They include Aktor Elektrik Enerji, Genvera Enerji A (Celik Group) and Cengiz Enerji Sanayii ve Ticaret A.

Pakistan’s major business groups have also entered the process. Engro Energy, associated with the Dawood family, is among the interested parties.

Sapphire Fibers, linked to the Abdullah family, has also submitted documents. Hub Power Holdings, associated with the Habibullah Khan family, is another major power-sector investor in the race.

Shirazi Investments, which has interests in the automobile sector, is also participating.

Artistic Milliners, owned by the Yaqoob family, has expressed interest in the distribution companies. K-Electric has also submitted documents for Gepco.

Government Sees Investor Confidence

Muhammad Ali, Adviser to the Prime Minister on Privatisation, welcomed the response from investors.

He said the interest represented an important step in the government’s plan to privatise distribution companies.

The adviser said the response reflected investor confidence in Pakistan’s electricity distribution sector. He also stressed the government’s commitment to a transparent and competitive privatisation process.

The EOIs and Statements of Qualification submitted by investors will now undergo evaluation. Authorities will assess them against the approved prequalification criteria.

Gepco Among First Batch of DISCOs

Gepco is part of Batch-I of the government’s DISCO privatisation programme. Faisalabad Electric Supply Company and Islamabad Electric Supply Company are the other two companies in the first batch.

The deadline for Iesco’s Expressions of Interest is September 7, 2026.

Fesco received EOIs from 12 interested parties by its August 7 deadline.

The government’s strategy has drawn attention because several companies outside the initial privatisation list continue to record substantially higher financial losses.

Qesco and Pesco Face Heavy Losses

According to figures submitted by Power Minister Awais Ahmad Khan Leghari in Parliament, Quetta Electric Supply Company suffered Rs82 billion in distribution and transmission losses during fiscal year 2025-26.

Qesco’s losses stood at Rs52 billion a year earlier. Its loss ratio also increased sharply from 38.4% to 60.2%.

The scale of Qesco’s losses contrasts sharply with Fesco’s performance. Fesco recorded distribution losses of only Rs1 billion during the same period, yet remains a government priority for privatisation.

Peshawar Electric Supply Company also recorded significant losses. Pesco’s losses reached Rs85 billion in 2025-26, compared with Rs87 billion the previous year.

Its loss ratio increased from 37.1% to 40.7%. The figures highlight the continuing challenges facing Pakistan’s power distribution system.

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Gepco Reports Much Lower Losses

Gepco’s financial performance stands in sharp contrast to several loss-making distribution companies.

The company recorded distribution and transmission losses of around Rs6 billion during the last fiscal year. Its loss ratio stood at about 10%.

Islamabad Electric Supply Company recorded only Rs2 billion in losses, down from Rs5 billion a year earlier.

Despite its relatively stronger performance, Iesco remains part of the government’s priority privatisation programme.

Other DISCOs Continue to Struggle

Sukkur Electric Power Company recorded Rs34 billion in distribution and transmission losses during 2025-26. Its loss ratio reached 38.5%.

Multan Electric Power Company reported Rs6 billion in losses, with its loss ratio standing at 12.4%. It is also among the companies being considered for privatisation.

Hyderabad Electric Supply Company recorded losses of Rs20 billion, equal to 25.7%.

Lahore Electric Supply Company reported Rs26 billion in losses, or 12.2%. Its losses declined by Rs9 billion compared with the previous year, but the company has still been added to the privatisation list.

The contrasting performance of Pakistan’s distribution companies has intensified debate over which assets should receive priority. While investors are showing strong interest in relatively efficient companies such as Gepco and Fesco, the country’s most loss-making DISCOs continue to place a heavy burden on the power sector.