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Dr. Abdul Hafeez Shaikh Federal Minister for Privatisation & Investment
chaired a meeting of the members of Privatisation Commission Board here today.
PC Board pre-qualified the potential bidders for the privatisation of
Pak-American Fertilizers Limited (PAFL) and recommended to the Cabinet
Committee on Privatisation (CCOP) for the inclusion of Initial Public Offering
(IPO) of Pak-Arab Refinery Limited (PARL) in the Privatisation Program,
under the slogan of 'Privatisation for the People'. The Board also formulated
its recommendations for the divestment of GoP shares of State Life Insurance
Corporation (SLIC) through Public Offering. PC has so far offered GoP shares
of OGDCL, PPL, NBP, SSGC, PIAC, UBL, KAPCO and other entities to the common
man through public offerings.
The meeting was informed that Expression of Interest (EOI) for the appointment
of Financial Advisory Consortia for the divestment of Oil & Gas Development
Company Limited's 10 to 15 % shares through GDR and in the domestic market has
been invited. It will be submitted before the CCOP for further guidance and
approval.
The meeting also recommended submitting the broad parameters of the agreement
between the GoP and Ehtisalat of UAE, for privatisation of Pakistan
Telecommunication Company Limited (PTCL) for necessary consideration and
approval of CCOP.
The meeting reviewed the implementation status of the decisions taken in the
earlier meeting and discussed the privatisation process of various other
upcoming and ongoing entities.
The PC Board members, senior officials and representatives of the respective
ministries and departments were present during the meeting.