|
|
|
|
|
Referring to a news report regarding the bidding result for the sale of 90%
shares of Thatta Cement Company Limited (TCCL) appearing in a section of the
press, a spokesman of Privatisation Commission has clarified that the payment
schedule stated in the report i.e. '..the buyer will have to pay 5% of the
total bid value within a week of the issuance of Letter of Acceptance (LOA)..'
is not correct due to some typo mistake. He clarified that the successful
bidder would be required to deposit 50 % (fifty percent) of the
bid value within seven days of the issuance of LOA.
The payment schedule was not only given in the bidding documents but it was
amply explained to all the bidders before the commencement of the bidding for
TCCL, the spokesman stated.