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Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation & Investment
while declaring the results of invitation for Expression of Interest (EOI)
from prospective investors and business houses to privatise Mustehkam Cement
Limited (MCL) through the sale of 85.29 % shares held by the holding company
SCCP has said that the overwhelming response by 38 parties reflected the
investors confidence in the government's economic and privatisation policies.
The Minister said that the country's privatisation program was heading forward
satisfactorily and successfully to bring in private sector for fresh
investment, expansion of the entities being offered and to enhance the
production with better quality and efficiency. Our privatisation program was
aimed at reviving the closed units, transmitting the benefits of privatisation
to the common man through public offerings of GoP shares in Public Sector
entities, improving the services and the products and to generate more
job opportunities in all the sectors of economy, he said.
The companies, which have submitted EOIs for Mustehkam Cement Company Limited
include 4B Industries, Abdali Brothers, Afzal Motors, Al-Abbas Group of
Companies, Ali Akbar Enterprises AGRO Division, Alloy Steel Company, AMTEX
Pvt. Ltd, Asgharali Group, Balochistan Glass Ltd, Bestway Cement Ltd, BNP Grp,
Dewan Mushtaq Group, ELIXIR Securities Pakistan, Fauji Cement Company, Fecto
Cement Ltd, Ghazi Grp, Gulistan Group of Companies, Hunza Group of Companies,
Imran Pasha (pvt) Ltd, Ittehad Steel, Kohinoor Oil Mills, Lucky Cement Ltd,
Maple Leaf Cement Factory Ltd, National Group, Premimum Energy, Saif Telecom
Ltd, Sapphire Group, Sarawak Clinker Sdn. Bhd, Sarhad Textile Mills Ltd,
Shalimar Shoes Ltd, Silver Textile Factory, Subh-e-Noor, Swat Ceramics Company
Pvt Ltd, The Petrosin Grp and Usman Enterprises.
MCL is a public limited company listed on the stock exchange. The original
unit commenced its production in 1966, while the new unit started commercial
production in 1981. The company produced Portland cement. The plant is located
at Hattar, Haripur and has a rated capacity of 660,000 tons per annum. The
unit holds approx. 445 acres of land, while the factory area is 146.3 acres.
It was closed down in 1999 and employees were paid off GHS/VSS.