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The Cabinet Committee on Privatisation (CCOP), which met here under the
chairmanship of Prime Minister Mr. Shaukat Aziz approved the highest bid of
Rs.156 million for the sale on 'as is where is' basis of the assets including
plant, machinery and equipment of Lasbella Textile Mills (LTM).
The Prime Minister while addressing the meeting appreciated the performance of
the Privatisation Commission and stated that the privatisation being corner
stone of the economic agenda of the government, had proved to be of great
benefit to the country's economy and would be vigorously pursued.
The CCOP took various decisions to take some transactions to the bidding point
including sale of Services International Hotel (SIH), Lahore on "as is where
is basis", Hazara Phosphate Fertilizers Ltd (HPFL) and Lyallpur Chemicals &
Fertilizers Limited (LCFL).
The CCOP also decided to divest shares of various entities under the very
successful, 'Privatisation for the People' program. The meeting reviewed in
detail the Privatisation Program till June 2007.