Pakistan, Aug. 7 -- A consortium comprising several Nishat Group companies has entered the race for the privatisation of Faisalabad Electric Supply Company (FESCO).

The development was disclosed by Nishat Chunian Power Limited (NCPL) in a notice to the Pakistan Stock Exchange (PSX) on Thursday.

"Nishat Chunian Power Limited obtained the Request for Statement of Qualification as amended or supplemented from time to time (RSOQ) issued by the Privatisation Commission, for the divestment of FESCO through privatisation and the Board of Directors of the company approved participation in the consortium," read the notice.

The consortium comprises Nishat Chunian Power Limited, Pakgen Limited, Lalpir Limited, Nishat Power Limited, Nishat Mills L...