JDW Sugar Mills Limited (PSX: JDWS) has joined a consortium led by Pakgen Limited to participate in the privatisation process of Faisalabad Electric Supply Company (FESCO).
The development was disclosed by JDW Sugar Mills through a material information notice submitted to the Pakistan Stock Exchange (PSX) on August 20, 2026.
The company said it was approached to become part of the consortium in connection with the Request for Statement of Qualification (RSOQ) issued by the Privatisation Commission for FESCO’s divestment.
Consortium Expands to 10 Companies
The consortium is led by Pakgen Limited and now includes 10 companies:
- Pakgen Limited
- Nishat Mills Limited
- Lalpir Limited
- Nishat Power Limited
- Nishat Chunian Power Limited
- Kohinoor Energy Limited
- Pak Elektron Limited
- JDW Sugar Mills Limited
- Deharki Sugar Mills (Private) Limited
- ATF Agri Sciences (Private) Limited
JDW Sugar Mills said its board has approved an amendment to the consortium’s Statement of Qualification to enable its participation in the FESCO privatisation process.
However, the company clarified that it has not assumed any binding obligation in connection with the proposed transaction.
Its participation remains subject to pre-qualification by the Privatisation Commission and the completion of all required corporate and regulatory approvals.
Competition for FESCO Intensifies
The development comes as competition for FESCO increases. The Privatisation Commission has received 12 Expressions of Interest (EOIs) from domestic and international investors seeking to acquire between 51% and 100% of FESCO along with management control.
The interested parties include investors from Türkiye and China as well as several major Pakistani business groups.
FESCO is among the first three electricity distribution companies being offered for outright privatisation, alongside Gujranwala Electric Power Company (GEPCO) and Islamabad Electric Supply Company (IESCO).
The government’s privatisation programme aims to improve operational efficiency, modernise distribution infrastructure, reduce losses, and attract private investment into the power sector.
With JDW Sugar Mills joining the Pakgen-led consortium, the group has further strengthened its position in the race for FESCO.
JDW Sugar Mills said it will continue to inform the Pakistan Stock Exchange about any material developments concerning the proposed transaction.
