Turkish companies Cengiz Holding, Çalık Holding and Aktor are showing interest in another electricity distribution company in Pakistan as the country moves ahead with the privatization of its state-owned power distribution companies.
The three companies, which have already expressed interest in Faisalabad Electric Supply Company (FESCO), have now also turned their attention to Gujranwala Electric Power Company (GEPCO).
Pakistan Opens Electricity Distribution Sector to Privatization
Pakistan has put several state-owned electricity distribution companies, known as DISCOs, on the privatization agenda as part of efforts to reduce losses, improve collections and address persistent financial problems in the energy sector.
FESCO is one of three companies approved for privatization. The other two are GEPCO and Islamabad Electric Supply Company (IESCO).
The deadline for submitting expressions of interest (EOIs) for GEPCO was set for August 21, 2026, while the deadline for IESCO was set for September 7, 2026.
Turkish Companies Compete for FESCO
Cengiz Holding, Çalık Holding’s Genvera Enerji and Aktor Elektrik were among the companies that submitted expressions of interest for FESCO.
The Pakistani Privatization Commission said a total of 12 companies had expressed interest in acquiring between 51% and 100% of FESCO. Eight were Pakistani companies, one was Chinese and three were Turkish.
FESCO serves approximately 5.6 million consumers across Faisalabad, Sargodha, Mianwali, Khushab, Jhang, Bhakkar, Toba Tek Singh and Chiniot. The company has around 13,000 employees and generated approximately $2.7 billion in revenue in 2022.
Energy Sector Reform
Pakistan’s privatization drive is being implemented as part of the country’s IMF-backed economic stabilization program. The government aims to reduce electricity distribution losses, improve revenue collection and tackle the chronic debt burden that has weighed on public finances.
The growing interest from Cengiz, Çalık and Aktor signals increasing Turkish participation in Pakistan’s electricity distribution sector, with the three companies now pursuing opportunities across more than one of the country’s major DISCOs.