The federal cabinet has authorised the sale of the majority to all stakes of the country's three profitable power distribution companies. The Privatisation Commission said three Turkish, one Chinese and eight local groups have shown interest in acquiring Fesco, which supplies electricity to Pakistan's third most populated city and its textile hub. The Abdullah family's Sapphire Fibers Limited has also shown interest in the acquisition. Another one of the richest groups having deep stakes in the power sector, Hub Power Holdings of the Habibullah Khan family, and Lucky Cement of Mohammad Ali Tabba family have also shown interest. Fesco is among the three electricity distribution companies in Discos Batch-I, alongside Gujranwala Electric Power Company (Gepco) and Islamabad Electric Supply Company (Iesco).