March 01, 2015 9:05 PM ET

Electric Utilities

Company Overview of Faisalabad Electric Supply Company Limited

Company Overview

Faisalabad Electric Supply Company Limited operates as an electricity distribution and supply company in Pakistan. The company generates power from water and power development authority and serves customers in the central region of Punjab. Faisalabad Electric Supply Company Limited was founded in 1998 and is based in Lahore, Pakistan.

325 Wapda House

Shahrah -e- Quaid -e- Azam

Lahore,  54000

Pakistan

Founded in 1998

Key Executives for Faisalabad Electric Supply Company Limited

Chief Executive Officer
Compensation as of Fiscal Year 2014.

Faisalabad Electric Supply Company Limited Key Developments

Pakistan Government Mulls Privatization Of Faisalabad Electric Supply Company Limited

Pakistan government is privatizing Faisalabad Electric Supply Company Limited. Pakistan government has hired a financial adviser for privatizing. Officials of the Ministry of Finance and Privatization confirmed the privatization of Faisalabad power Distribution Company. Privatization Commission has appointed consortium of Pak-China Investment Company to act as financial advisor to Pakistan government. The transaction is expected to be completed by July this year.

Pakistan Government Mulls Privatization Of Major Utility Companies

Government of Pakistan is seeking to sell its stake in its major utility companies. The Privatization Commission has initiated sell-off process of Hyderabad Electric Supply Company Ltd. (Hesco) as part of a comprehensive reform and restructuring programme of the power sector. The commission on January 23, 2015, issued the expression of interest (EoI) for engaging the services of a reputable financial advisory consortium for this transaction. The deadline for the submission of technical and financial proposal is February 27, 2015. The divestment of 100% strategic asset of Faisalabad Electric Supply Company Limited (Fesco) will be completed by August 31 this year and I Islamabad Electric Supply Company Limited (Iesco) and Lahore Electric Supply Company (Lesco) by October 31, 2015. The government to complete the capital market transaction for selling its 100% stake in Habib Bank Limited (KASE:HBL) by April 30 this year.

Pakistan Government Mulls Privatization Of Pakistan’s Major Companies

The Pakistan government is looking for privatization of major Pakistan Companies. The Pakistan government said two investment bank-led consortia had filed bids in response to the expressions of interest (EOI) sought by the Privatisation Commission (PC) for hiring a financial adviser for facilitating the sale of Pakistan Steel Mills Corporation (PVT) LTD. Mohammad Zubair, Chairman of PC, talking to The Express Tribune confirmed that the commission had received bids from prospective financial advisers, but he did not disclose the number of offers. "Bids will be opened on Tuesday and the financial adviser will be on board next week," Mohammad Zubair said. Its next target is the offer of its remaining 42% stake in the Habib Bank Limited(KASE:HBL). PC expects to receive an estimated $1.36 billion from the sale of HBL shares, which it to complete in April 2015. The government is also looking to sell stakes in National Power Construction Corporation (Pvt) Limited (NPCC) and Heavy Electrical Complex (Pvt.) Ltd. (HEC). These are part of the four transactions that are targeted to be completed in the current year. NPCC is expected to attract a price of $ 19.58 million whereas HEC is valued at $9.8 million. "Due diligence of NPCC, Faisalabad Electricity Supply Company and Pakistan International Airlines Corporation (KASE:PIAA) are in progress," said Asad Rasool, Senior Consultant of PC. The conversion has been done using oana.com on January 17, 2015.

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