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In Pakistan, Rs911 billion in assets have been transferred as part of the DISCO restructuring, with bidders for FESCO, GEPCO, and IESCO set to inherit Rs648 billion in liabilities, potentially violating an IMF condition.
Pakistan's Privatisation Commission announced strong interest from domestic and international investors for the privatisation of Faisalabad Electric Supply Company (Fesco).
Pakistan's Privatisation Board has approved the restructuring of FESCO (Faisalabad Electric Supply Company) and declared a consortium led by KPMG, in partnership with Bridge Factor and others, as the preferred entity.
A Pakistani sugar giant has joined a consortium aiming to acquire FESCO, a state-owned power distributor in Pakistan.
Turkey has called on both Russia and Ukraine to ensure the safety of navigation in the Black Sea, following recent drone attacks on commercial ships. UNICEF also reiterated its call for an end to attacks harming children in both countries.
Twelve different groups, including families such as Mansha, Saigal, and Tabba, have shown interest in acquiring a stake in the power utility Fesco.
Pakistan is considering a privatization model similar to PIA's for its power distribution companies (DISCOs), with FESCO, GEPCO, and IESCO moving forward with a special purpose vehicle.