Karachi: Kohat Cement Company Limited has announced its participation in a consortium formed to explore the potential acquisition of a significant equity stake in Faisalabad Electric Supply Company Limited (FESCO). This development was disclosed in a report dated August 31, 2026.

The consortium, which includes Hub Power Holdings Limited, Lucky Cement Limited, and Metro Ventures (Private) Limited, has submitted an Expression of Interest and Statement of Qualification for acquiring a 51% to 100% equity stake, along with management control, in FESCO. The Government of Pakistan is offering this stake as part of a privatization process.

According to information available from the Pakistan Stock Exchange (PSX), the consortium has been pre-qualified by the Privatisation Commission. It is now shortlisted to conduct financial, technical, and legal due diligence on FESCO. This step is essential before any competitive bidding process, as mandated by the relevant privatization laws.

It is important to note that neither Kohat Cement Company Limited nor the consortium has entered into any binding agreements regarding the acquisition of FESCO's equity. Any commitment would ensue only after a thorough due diligence process, obtaining necessary corporate and regulatory approvals, and ensuring the transaction's commercial viability.

Currently, the consortium's focus is on undertaking a comprehensive due diligence exercise to evaluate the acquisition opportunity's feasibility. This approach aligns with the consortium’s strategy to assess the potential benefits and risks associated with this venture in the designated market category.