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Privatisation Commission had not only achieved the target of Rs. 75 billion
as reflected in the Federal budget for the year 2006 - 2007, it had surpassed
it by finalizing privatisation transactions amounting to Rs. 120 billion.
During the year ending June 30, 2007, two major GDR transactions pertaining to
OGDCL and United Bank Limited, Secondary Public Offering of OGDCL, sale of
Lasbella Textile Mills assets and strategic sales of Pak American Fertilizer
Limited, Javedan Cement Company Ltd and Lyallpur Chemicals & Fertilizers Ltd
were completed. The amount of Rs. 120 billion equivalent to US $ 2 billion
(approx) is the highest ever-sales proceeds realized in a single year, which
makes 2006-2007 the most successful year in the history of privatisation in
Pakistan in terms of sale proceeds.