Sapphire Fibres Enters GEPCO Privatization Race After Seeking FESCO Stake

Sapphire Fibres Limited has entered the race for the privatization of Gujranwala Electric Power Firm (GEPCO), adding to its existing interest in Faisalabad Electric Supply Business (FESCO) as the administration moves ahead with the privatization of its first batch of power distribution businesses.

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• The move comes after Sapphire joined the race for FESCO earlier this month.
• Sapphire additionally stated it may form a consortium once the relevant approval is granted.

In a disclosure to the Pakistan Stock Exchange dated August 25, Sapphire Fibres remarked it had obtained the Request for Statement of Qualification issued by the Privatization Commission for the divestment of GEPCO.

Easypaisa Profit Before Tax Jumps 2.27x to Rs. 8.26 Billion in H1 2026.

Although it remarked no binding obligation to bid has been assumed at this stage and participation remains subject to prequalification and the required corporate and regulatory approvals, the company's board has approved its participation in the transaction.

Sapphire additionally stated it may form a consortium once the relevant approval is granted. The firm will continue to keep the stock exchange informed concerning material developments related to its participation in the transaction.

Meanwhile, the move comes after Sapphire joined the race for FESCO earlier this month. GEPCO is part of the same first batch of DISCOs being privatized by the administration, alongside FESCO and Islamabad Electric Supply Business (IESCO). The administration is offering investors the opportunity to acquire between 51 percent and 100 percent ownership along with management control as part of its broader power sector reform and privatization program.

For context, the administration has stated the privatization of the three DISCOs is aimed at improving operational efficiency, modernizing distribution infrastructure, reducing losses and strengthening customer service. The Privatization Commission has additionally been working on restructuring the businesses before the transactions to create them commercially viable and more attractive to private sector investors. Stay Connected with ProPakistani.

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Taken together, the developments around sapphire Fibres Enters GEPCO Privatization Race After Seeking FESCO Stake point to a situation that is still moving, and the coming days should bring more clarity.