Faisalabad: (RightNow) Twelve domestic and international investors have shown interest in the privatization of FESCO. Major business groups from Turkey, China, and Pakistan have expressed their desire to purchase shares in FESCO.

According to the Privatization Commission, 12 expressions of interest have been received for acquiring 51 to 100 percent of FESCO’s shares. The commission has termed this process a significant milestone.

Pre-qualified investors will be granted access to a virtual data room for due diligence. The privatization process for GEPCO and IESCO is also underway.

This privatization effort could prove crucial for Pakistan’s economy and promote foreign investment. It may accelerate economic activities in the country.

It is noteworthy that following FESCO’s privatization, the process for other state-owned enterprises will also commence. Several institutions have already been sold under privatization in the past.