Karachi: Sapphire Fibres Limited, a key player in the textile industry, has announced its intention to participate in the privatisation process of Faisalabad Electric Supply Company (FESCO), according to a disclosure report dated August 7, 2026. This significant move was unveiled in compliance with the Securities Act, 2015, and the regulations of the Pakistan Stock Exchange Limited.

According to information available from the Pakistan Stock Exchange (PSX), the company has obtained the Request for Statement of Qualification (RSOQ) from the Privatisation Commission, indicating its interest in the divestment process of FESCO. However, the company's involvement in the transaction is not yet binding and remains contingent upon pre-qualification by the Privatisation Commission, as well as the acquisition of all necessary corporate and regulatory approvals.

The Board of Directors of Sapphire Fibres Limited has sanctioned this potential involvement, noting that the company may consider forming a consortium if the approval process proceeds favorably. This step reflects Sapphire Fibres Limited's strategic interest in expanding its portfolio beyond its traditional textile operations.

The company has committed to keeping the Pakistan Stock Exchange informed of any material developments as the process unfolds. The disclosure underscores the ongoing interest and activity in Pakistan’s privatisation efforts, particularly in the energy sector, as companies seek to diversify and engage in new investment opportunities.