SIX PARTICIPATE PRE-BID MOOT FOR SALE OF ASSETS OF SERVICES INTERNATIONAL HOTEL LAND

Islamabad, October 16, 2006

A pre-bid moot for the sale of moveable and immovable assets of Services International Hotel (SIH), Lahore on "as is where is basis" was held here today under the Chairmanship of Sheikh Ikramullah, Secretary, PC. The basic objective of the moot was to achieve consensus for finalization of Bid Documents and also to respond the issues/ queries raised by the potential bidders.

According to the decision of the Cabinet Committee on Privatisation (CCOP), the Successful Buyer shall construct a five star industry standard hotel at the prime location of Shahrah-e-Quaid-e-Azam, Lahore.

Nine (9) Expressions of Interest (EOIs) were received by PC from interested parties. Among them six parties participated in the said meeting,which include 1. Associated Group, 2.Hashwani Hotels, 3. Marwat Enterprises, 4. Noor Financial Investment Company, 5. S.A. Builders and 6. Tristar Group.

Mr. Shahid Rashid, Principal Secretary to Governor Punjab, Brig. M. Farooq Maan, Chairman, Punjab Cooperative Board for Liquidation, Mr. Abid Javed Akbar, Chairman, National Insurance Corporation, representatives of LDA and senior officials of PC attended the meeting.