In view of meeting the emergent needs of power distribution equipment of the country, and to save the heavy amount of foreign exchange being spent on import of such equipment, a registered company by the name of Faizi Industries established in 1952, under the patronage of Late Ch. Abdul Aziz, started manufacturing Low Voltage Fused Switchgear, Switch Fuses, Distribution Fuse Board, Controlgear, Busbar Trunking etc, under the brand name of FICO.
The company was afterwards incorporated as a private limited company in 1958 and added manufacturing of Medium Voltage Switchgear, D Fuse Fitting & Instrument Transformers over a short period of time.
In 1990 it was converted into an unlisted public limited company and later in 1992, as a result of replacement of its then management and change in its Board of Directors, its name was change to FICO LIMITED.
In 1997, after turning the company again to a private limited concern, the management decided to run the company on divisional basis for quality assurance and further improvement of the company. Thus 3 independent divisions i.e. MV/LV Switchboard Division, Instrument Transformer and Dropout Cutout Division and Fuse Switch Division were established.
Later, for the achievement of still better management control over the administrative and financial matters of above independent units, the company was trifurcated into 3 independent companies and arise as unregistered FICO GROUP having independent BOD for each of the company. Subsequently, the MV/LV Switchboard Division was incorporated as an independent company under the name of FICO Engineering Co. (Pvt) Ltd. w.e.f. 1-7 -2002.