Mughal Iron & Steel obtains RSOQ for GEPCO divestment

August 24, 2026 (MLN): Mughal Iron & Steel Industries Limited (PSX:MUGHAL) has obtained the Request for Statement of Qualification (RSOQ) issued by the Privatization Commission for the divestment of GEPCO through privatization, with the Board approving the Company's participation in a Consortium comprising Fast Cables Limited, AKD Securities Limited, AJCL (Private) Limited, and Mughal Iron & Steel Industries Limited.

The Company said the Consortium Members had irrevocably designated AKD Securities Limited as the Lead Consortium Member, authorizing it, through its Authorized Representative and with power to sub-delegate, to conduct all business on behalf of the Company and the Consortium during the privatization process.

The Company clarified that, as at the date of the notice, it had not assumed any binding obligation in respect of the transaction, which remains subject to pre-qualification by the Privatization Commission and to all requisite corporate and regulatory approvals and due diligence, adding that the Exchange would be kept informed of material developments in this regard.

The aforementioned information was disseminated through a notification to Exchange.

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