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The meeting of the Cabinet Committee on Privatisation (CCOP) was held today
in the Cabinet Room of the Prime Minister's Secretariat. The meeting was
chaired by the Prime Minister Mr. Shaukat Aziz.
The CCOP approved the Secondary Public Offering of 5 % United Bank Limited
shares with another 5 % green shoe option. The shares would be offered to the
general public in two lots of 500 and 1,000 shares. The offering would be
brought to the market in the next eight weeks.
The CCOP was informed that eight parties had been pre-qualified for
participating in the bidding for Pak American Fertilizers Company Limited. It
was also informed that the bidding for this company would held on February 28,
2006.
The Committee was informed that the bidding for Pakistan Steel Mills
Corporation (PSMC) and Pakistan State Oil (PSO) has been scheduled for early
March 2006. the Minister for Privatisation & Investment also apprised the
Committee about the status of the privatisation program of Pakistan
Telecommunication Company Limited (PTCL).
The CCOP was also briefed on the upcoming transaction upto June 30, 2006
namely SNGPL, SSGC, NIT Units, Jamshoro Power Company and IPOs of SLIC and
PARCO.
The CCOP noted that the privatisation program was moving satisfactorily and
appreciated the efforts of the Privatisation Commission in professionally
pursuing program.