PSO PRIVATISATION ON SCHEDULE -BIDDING WITHIN NEXT TWO MONTHS

Islamabad, March 07, 2007

Referring to a news item issued by Reuters news agency regarding the possible date of privatisation of Pakistan State Oil Company (PSO), a spokesman of the Privatisation Commission clarified that PSO transaction was well on track and it was being targeted for bidding within next two months. 

The Privatisation Commission is currently in the process of pre-qualification of the parties for initiating due diligence of the transaction in the data room, which has already been established and is being opened soon. Every effort was being made to conclude the transaction within the current fiscal year, the spokesman concluded.