Pakistan has extended the deadline for investors to submit expressions of interest (EoIs) in the privatisation of the Islamabad Electric Supply Company (IESCO), according to a report by Dawn.
The extension applies to the sale process for the state-owned power distribution company. The original deadline has been pushed back, though Dawn's report does not specify the new date or the length of the delay. The decision follows a similar move reported by Arab News, which also noted the extended submission window for IESCO.
IESCO is one of several distribution companies in Pakistan earmarked for privatisation as part of the government's broader effort to reform the financially strained power sector. The sale is part of a wider programme involving multiple power distributors, with the government seeking private investment to improve efficiency and reduce losses.
The privatisation push comes amid pressure from international lenders. Profit by Pakistan Today reported that the government's plan to sell off power distribution assets, valued at around Rs911 billion, could put an International Monetary Fund (IMF) audit condition at risk. The report suggests that the pace and structure of the asset sales may not fully align with IMF requirements tied to the country's bailout programme.
Interest in the sector is not limited to IESCO. CemNet.com reported that Pakistan's cement industry is deepening its involvement in the power sector, with one company bidding for another distributor, the Gujranwala Electric Power Company (GEPCO). This indicates that domestic industrial players are actively seeking control of distribution networks.
Observers will now watch whether the extended IESCO deadline attracts more bidders and whether the government can complete the sale in line with IMF conditions.
