FAISALABAD: With the aim to privatise Faisalabad Electric Supply Company (Fesco), the government has sought private sector partnership for acquiring 74 percent shares with its management control of the Fesco.
Privatisation Commission of Pakistan (PCP) has formally invited Expression of Interests (EoI) from the private sector by December 31,to privatise FESCO in line with the decision of the Council of Common Interest (CCI).
The CCI has already launched a comprehensive program to modernize the private sector through strategic partnership with the private sector.
FESCO is one of the leading distribution company of the country which is operating since on 1998 with more than 3 million consumers in districts Faisalabad, Toba Tek Singh, Jhang, Chiniot, Sargodha, Khushab, Mianwali and Bhakker. Operating in the industrial hub of country, it has a favorable consumer mix generating over half of its revenue from industrial and bulk consumers.
Privatisation Commission of Pakistan announced that it would ensure the protection of the employees welfare, including legal rights, benefits, which shall be protected by the Government of Pakistan and no forcible retrenchment except in accordance with law and service rules would be allowed.
