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The Cabinet Committee on Privatisation (CCOP) allowed the Initial Public
Offering of 10 % shares of United Bank Limited (UBL) with 5 % additional offer
through green shoe option in case of over subscription to benefit the smaller
investors during its meeting held under the chairmanship of Prime Minister Mr.
Shaukat Aziz here today. To accommodate maximum
number of subscribers, the lot size of the shares to be offered would be 200
shares as a part of government's policy of 'Privatisation for the People'.
The CCOP approved the inclusion of strategic sale of Pakistan Steel Mills
Corporation and Morafco Industries, Faisalabad in the privatisation program.
A sub committee was constituted under the chairmanship of Dr. Abdul Hafeez
Shaikh Federal Minister for Privatisation & Investment, with Dr. Salman Shah
Advisor to the Prime Minister on Finance and Dr. Tariq Hasan Chairman SECP as
its members to look into issues concerning privatisation of Carrier Telephone
Industries, Islamabad.
The Federal Ministers for Privatisation & Investment, Information &
Technology, Petroleum & Natural Resources, Textile Industry, Labour Manpower &
Overseas Pakistanis, respective Federal Secretaries of the Divisions,
representatives of SECP, SBP, PTCL, Karachi Stock Exchange and the PC were
also present during the meeting.