Sapphire Fibres joins race for FESCO privatisation
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Sapphire Fibres Limited (SFL) has joined the growing list of companies seeking to participate in the privatisation of Faisalabad Electric Supply Company (FESCO), intensifying competition for the power distribution company.
In a notice to the Pakistan Stock Exchange, SFL said its board had approved participation in the proposed transaction and that it had obtained the Request for Statement of Qualification (RSOQ) issued by the Privatisation Commission.
The company, however, clarified that its decision does not represent a binding commitment at this stage. Its participation remains conditional on securing pre-qualification from the Privatisation Commission and obtaining the required corporate and regulatory approvals.
SFL also indicated that it could form a consortium with other investors once the necessary approval is secured, potentially adding another private-sector group to the FESCO privatisation process.
The development comes a day after a consortium comprising several Nishat Group companies disclosed its intention to participate in the FESCO transaction, highlighting growing interest from major business groups in Pakistan’s power distribution sector.
The deadline for submitting expressions of interest for FESCO was revised to August 7, 2026.
The government is pursuing the privatisation of selected distribution companies as part of broader efforts to improve efficiency, attract private investment and address persistent challenges in the power sector.
