Lahore: Mughal Iron & Steel Industries Limited has announced its participation in a consortium aiming to acquire the Gujranwala Electric Power Company (GEPCO) through the privatization process, according to a report dated August 24, 2026. The company disclosed this information as part of its compliance with the Securities Act, 2015.

Mughal Iron & Steel Industries Limited, alongside Fast Cables Limited, AKD Securities Limited, and AJCL (Private) Limited, has formed a consortium to participate in the privatization of GEPCO. The Board of Directors of Mughal Iron & Steel has approved the company's involvement in this strategic endeavor. The consortium has designated AKD Securities Limited as the Lead Consortium Member, granting it the authority to manage business activities throughout the privatization process.

According to information available from the Pakistan Stock Exchange (PSX), the consortium's formation is a significant development in the ongoing privatization initiatives within the country's energy sector. The transaction remains subject to pre-qualification by the Privatization Commission, as well as the necessary corporate and regulatory approvals and due diligence. Mughal Iron & Steel has emphasized that it has not yet entered into any binding obligations related to this transaction.

The company has committed to keeping the stock exchange informed of any material developments in relation to the privatization process. The announcement underscores the company's strategic positioning as it navigates potential opportunities in the energy sector, with the consortium poised to play a pivotal role in the prospective acquisition of GEPCO.