Nishat Chunian Power Limited has announced its participation in a consortium for the privatisation of FESCO, following the approval from its Board of Directors.
- The company has received the Request for Statement of Qualification (RSOQ) from the Privatisation Commission for the divestment of FESCO.
- Nishat Chunian Power Limited is part of a consortium that includes Pakgen Limited, Lalpir Limited, Nishat Power Limited, Nishat Mills Limited, Kohinoor Energy Limited, and Pak Elektron Limited.
- Pakgen Limited has been designated as the Lead Consortium Member to conduct all business on behalf of the consortium during the privatisation process.
- As of now, no binding obligations have been assumed by the company regarding the transaction, which is still subject to pre-qualification and regulatory approvals.
- The company will keep the Pakistan Stock Exchange informed of any material developments related to this transaction.