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The Cabinet Committee on Privatisation (CCOP) approved
the divestment of additional 3.2 % shares of National Bank of Pakistan (NBP)
through Stock Market. This was decided in a meeting held under the
chairmanship of the Federal Minister for Finance Mr. Shaukat Aziz here today.
The CCOP directed PC to inter alia expedite the privatisation of Pakistan
State Oil (PSO), Habib Bank Limited (HBL), Faisalabad Electric Supply Company
(FESCO) and Jamshoro Power Company (GENCO). The CCOP further directed that the
divestment of shares of various public sector entities including OGDCL, SSGC
and PIA as per approved plan be accelerated. It was
noted by the CCOP that divestment of shares through Stock Exchange would help
in broadening and deepening the stock market.
CCOP also approved the transaction structure for the privatisation of National
Construction Limited (NCL). The meeting was informed that data room for the
due diligence by the parties being pre-qualified for HBL would be opened in
early September.
The Federal Minister for Privatisation & Investment Dr. Abdul Hafeez Shaikh
and senior officials of Finance, Petroleum & Natural Resources, Privatisation
& Investment, Labour Manpower & Overseas Pakistanis, Water & Power, Industries
& Production, Housing & Works, Railways, Securities Exchange Commission of
Pakistan, BOI and PC attended the meeting.