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A meeting of the Privatisation Commission Board was held here today under the Chairmanship of Mr. Zahid Hamid, Federal Minister for Privatisation & Investment which was attended by the Board Members and representatives of Ministry of Finance, Ministry of Water and Power, Ministry of Industries, Production and Special Initiatives, Information Technology Division and others.
The Board constituted two separate pre-qualification committees for the privatisation of Heavy Electrical Complex (HEC) and Hazara Phosphate and Chemicals Company Limited (HPFL).
The meeting also considered the highest bid of M/S Al-Hamd Chemicals for Lyallpur Chemical and Fertilizer Limited (LCFL) and recommended it for approval of the Cabinet Committee on Privatisation (CCOP).
The PC Board adopted the audited accounts of the Privatisation Commission for the year ended on June 30, 2006.
The Board was apprised that in the light of Supreme Court Judgment in case of Pakistan Steel Mills and to streamline procedures, the PC (Hiring of Financial Advisors) Regulation 2006, PC (Modes and Procedures) Rules 2006, PC (Valuation of Property Rules 2006) have been suitably amended in consultation with Law Division.