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The Privatisation Commission has invited fresh ‘Expression of Interest’ for
the sale of 94.8 % shares of Pak Arab Fertilizers (Pvt) Limited (PAFL) from
the prospective investors including fertilizer companies, industrial companies
and groups who can demonstrate capability to run the company for
pre-qualification, to be submitted latest by July 26, 2004. However, the
prospective bidders who had already submitted their EOIs in response to
earlier invitation in May 2002 and were pre-qualified need not to submit fresh
EOIs.
PAFL is 52 % GoP owned private limited company (through National Fertilizers
Corporation) located at Khenawal Road, Multan in the province of Punjab.
International Petroleum Investment Company of UAE (IPIC) owns the balance 48 %
shares. PAFL is a large fertilizer complex in Pakistan engaged in the
manufacture of Calcium Ammonium Nitrate (CAN), Nitro Phosphate (NP) commonly
known as compound fertilizer, besides Ammonia, Nitric Acid and Urea. The
company earned a pre-tax profit of Rs. 1,116 million in 2003.
Privatisation Commission has asked the interested parties intending to
participate in the privatisation process of PAFL, to submit their EOI for
pre-qualification along with investors profile in terms of ownership, net
worth, business track record (audited accounts, staff strength, etc.)
management’s capabilities for operating similar industrial operations and a
non refundable processing fee of Rupees one hundred and fifty thousand or US
dollar equivalent bank draft encashable at Islamabad. Request for Statements
of Qualifications (RSOQ) will be available from the office of the
Privatisation Commission on payment while summary profile giving salient
features of PAFL can be obtained from PC offices free of cost during office
hours.