PC Board approves consortium led by Raiffeisen as FA for privatisation of HESCO and SEPCO

ISLAMABAD : The Privatisation Commission (PC) Board has approved consortium led by Raiffeisen as the top-ranked interested party for appointment as Financial Advisor for the privatisation of Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO).
According to an official statement by the PC, its Board has recommended reference price for privatisation of First Women Bank Limited to the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT)
The PC Board, in its 240th meeting held under the chairmanship of Muhammad Ali, Chairman, Privatisation Commission, has recommended a Reference Price for the privatisation of First Women Bank Limited (FWBL) to the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT).
The PC is of the view that the important decision marks a significant step forward towards the potential conclusion of the proposed Government-to-Government (G2G) transaction. FWBL, incorporated in 1989, is 82.64% owned by the Government of Pakistan and is currently under consideration for investment by International Holding Company (IHC) — a nominee of the Government of the United Arab Emirates (UAE) under the Inter-Governmental Commercial Transactions Act, 2022.
Following the recommendation of the reference price by the PC Board, the transaction will quickly move to the next stage of consideration by the Cabinet Committee on Inter-Governmental Commercial Transactions (CCoIGCT) and subsequent engagement with the UAE government’s nominee. Successful completion of the process would not only attract fresh foreign direct investment (FDI) into the country but also enhance investor confidence in Pakistan’s broader privatisation programme.
In another key decision, the PC Board approved the consortium led by Raiffeisen as the top-ranked interested party for appointment as Financial Advisor for the privatisation of Hyderabad Electric Supply Company (HESCO) and Sukkur Electric Power Company (SEPCO). Other consortia that participated in the competitive international tender, launched on 23 June 2025, included groups led by Baker Tilly, Alvarez & Marsal, and EY (Ernst & Young),” said the statment.
Furthermore, the Board constituted a Negotiation Committee to finalise the Financial Advisory Services Agreement (FASA) with the top-ranked consortium led by Raiffeisen.
The Privatisation Commission remains committed to ensuring transparency, efficiency, and strategic reforms in its privatisation programme to strengthen Pakistan’s economic outlook and attract sustainable investment. Ends