Lahore: Nishat Mills Limited has announced its participation in a consortium aiming to acquire Faisalabad Electric Supply Company (FESCO) through a privatisation process, as per a report dated August 6, 2026. The decision follows the company's receipt of a Request for Statement of Qualification (RSOQ) from the Privatisation Commission, which facilitates the divestment process.

According to the report, the Board of Directors of Nishat Mills Limited approved the company's involvement in a consortium alongside Pakgen Limited, Lalpir Limited, Nishat Power Limited, Nishat Chunian Power Limited, Kohinoor Energy Limited, and Pak Elektron. Pakgen Limited has been designated as the Lead Consortium Member, with full authority to act on behalf of the group in all matters related to the privatisation.

According to information available from the Pakistan Stock Exchange (PSX), the consortium's participation is pending pre-qualification by the Privatisation Commission, along with necessary corporate and regulatory clearances. Nishat Mills Limited has clarified that it has not yet committed to any binding obligations regarding this transaction.

The company has assured stakeholders that it will continue to provide updates on significant developments related to the privatisation process. The disclosure form attached to the announcement is intended to keep certificate holders informed, in line with the Securities Act, 2015, and PSX regulations.