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The Privatisation Commission (“PC”) has received Expressions of Interest (EOIs)
from 37 investor(s), Consortium of Investors for acquisition of Pakistan
Tourism Development Corporation (PTDC)’s 26 Motels / Restaurants through a
competitive bidding process. PTDC’s Motels / Restaurants are being privatised
to promote tourism, improve the quality of services and foster competition,
which were divided into twelve (12) groups.
For all the twelve (12) groups of PTDC Motels/ Restaurants, four parties filed
EoIs include (i) Serena Hotel, (ii) KASB Capital, (iii) M/s Syed Tasneem
Hussain Naqvi and (iv) Pakistan Private Equity Management Ltd, while the
details of all other parties, which filed EoI for each group is stated below:
Group 1 (Barseen, Besham, Chatter Plain)
Eight parties filed EoIs namely (i) PACE (Pakistan) Ltd, (ii) Swat Continental
Hotel, (iii) Serena Hotel, (iv) KASB Capital, (v) M/s Syed Tasneem Hussain
Naqvi, (vi) Hashoo Group, (vii) Pakistan Private Equity Management Ltd, and
(viii) Petrosin Engineering (Pvt ) Ltd.
Group 2 (Khaplu, Satpara, Astak)
Seven parties filed EoIs namely (i) Serena Hotel, (ii) KASB Capital, (iii)
National Group of Industries, (iv) M/s Syed Tasneem Hussain Naqvi, (v) Hashoo
Group, (vi) Pakistan Private Equity Management Ltd, and (vii) Petrosin
Engineering Pvt Ltd.
Group 3 (Gupis, Phandar, Rama Lake)
Seven parties filed EoIs namely (i) Serena Hotel, (ii) KASB Capital, (iii)
National Group of Industries, (iv) M/s Syed Tasneem Hussain Naqvi, (v)
Pakistan Private Equity Management Ltd, (vi) Petrosin Engineering Pvt Ltd and
(vii) Target Communications.
Group IV (Gilgit, Hunza, Sust)
Eleven parties filed EoIs namely (i) PACE (Pakistan) Ltd, (ii) Karakurum
International University, (iii) Serena Hotel, (iv) KASB Capital, (v) National
Group of Industries, (vi) M/s Syed Tasneem Hussain Naqvi, (vii) Sardar
Builders (Pvt) Ltd, (viii) Hashoo Group (ix) Ittehad Steel Industries, (x)
Pakistan Private Equity Management Ltd, and (xi) Petrosin Engineering Pvt Ltd.
Group – V ( Bamburet, Birmoglasht, Chitral)
Eleven parties filed EoIs namely (i) Serena Hotel, (ii) KASB Capital, (iii)
AL-Khalil Enterprises, (iv) Sunfort Hotel (v) Aurangzeb Khan, (vi) M/s Syed
Tasneem Hussain Naqvi, (vii) Hashoo Group, (viii) Pakistan Private Equity
Management Ltd, (ix) Contech International, (x) Petrosin Engineering Pvt Ltd
and (xi) Peshawar Pipes
Group – VI ( Bunni, Mastuj)
Seven parties filed EoIs namely (i) Serena Hotel, (ii) KASB Capital, (iii)
Sunfort Hotel, (iv) M/s Syed Tasneem Hussain Naqvi, (v) Hashoo Group, (vi)
Pakistan Private Equity Management Ltd and (vii) Petrosin Engineering Pvt Ltd.
Group - VII (Chakdara, Panakot)
Eight parties filed EoIs namely (i) Serena Hotel, (ii) Ghulam Faruq, (iii)
KASB Capital (iv) Dr. Hidayat Rehman & Ayub Khan (v) Nasir Hussain (vi) M/s
Syed Tasneem Hussain Naqvi (vii) Pakistan Private Equity Management Ltd and
(viii) Petrosin Engineering Ltd
Group – VIII ( Saidu Sharif, Baffar)
Eleven parties filed EoIs namely (i) PACE (Pakistan) Ltd. (ii) Swat
Continental Hotel (iii) Serena Hotel (iv) Khalid Khan (v) Caravan Motors (vi)
KASB Capital (vii) M/s Syed Tasneem Hussain Naqvi (viii) Sardar Builders (Pvt)
Ltd (ix) Hashoo Group (x) Pakistan Private Equity Management Ltd (xi) Petrosin
Engineering Pvt Ltd.
Group – IX (Khuzdar, Taftan)
Seven parties filed EoIs namely (i) Saleem & Co (ii) Serena Hotel (iii) KASB
Capital Ltd (iv) M/s Syed Tasneem Hussain Naqvi (v) Pakistan Private Equity
Management Ltd (vi) Petrosin Engineering Pvt Ltd.(vii) Bezinjo Construction
Company, Balochistan.
Group – X (Ayubia)
Twenty one parties filed EoIs namely (i) PACE (Pakistan) Ltd (ii) BNP
(Private) Limited (iii) Sheikh Allaudin (iv) Serena Hotel (v) Carvan Motors
(vi) KASB Capital (vii) TASS Associates (viii) Sunfort Hotel (ix) National
Group of Industries (x) Abdul Rehman K. Abbasi & Associates (xi) M/s Syed
Tasneem Hussain Naqvi (xii) Khyber International (xiii) ITHFZ Mills Ltd (xiv)
Sardar Builders (Pvt) Ltd (xv) Hashoo Group (xvi) Ittehad Steel Industries
(xvii) Mian Ilyas Meraj (xviii) Pakistan Private Equity Management Ltd. (xix)
Petrosin Engineering Pvt Ltd. (xx) Gerry’s Travels & Holidays and (xxi) Nizam
Din & Sons (Pvt.) Ltd.
Group – XI (Katas)
Nine parties filed EoIs namely (i) PACE (Pakistan) Ltd. (ii) Serena Hotel
(iii) KASB Capital Ltd (iv) Sunfort Hotel (v) Jamil & Co. (vi) M/s Syed
Tasneem Hussain Naqvi (vii) Sardar Builders (Pvt) Ltd (viii) Dhan Cement
Industries (Pvt) Ltd (ix) Pakistan Private Equity Management Ltd.
Group – XII (Hawks Bay)
Eleven parties filed EoIs namely (i) PACE (Pakistan) Ltd. (ii) BNP (Private)
Limited (iii) Serena Hotel (iv) KASB Capital (v) M/s Syed Tasneem Hussain
Naqvi (vi) Hashoo Group (viii) Pakistan Private Equity Management Ltd. (viii)
Petrosin Engineering Pvt Ltd. (ix) Gerry’s Travels & Holidays (x) Nizam Din &
Sons (Pvt.) Ltd and (xi) Saleh & Sons.
The interested investors were asked to submit an Expression of Interest (‘EOI’)
(in duplicate) together with a non-refundable processing fee of PKR 30,000/-
or US $ 500/- for each group. The other conditions included a warranty to be
provided by the successful bidder to continue to operate the privatised assets
only as Motels/ Restaurants, the Purchaser of the privatised assets shall not
in any form or manner dispose off, alienate, transfer any or all land without
the prior consent of PC and the cost of the Golden Hand Shake Scheme (GHS) for
permanent workers and Voluntary Separation Scheme (VSS) for the permanent
executives will be shared equally between the purchaser and the PC.
Privatisation Commission reserves the right to accept any bid or reject all or
any of the bids at any stage without assigning any reason therefor. All
matters including terms and conditions relating to privatisation of PTDC
Motels / Restaurants shall be communicated to all qualified bidders from time
to time prior to the bid date. Information Memorandum, Bid Documents and Time
Frame for the Pre-Bid conference and bidding date will be provided to
Pre-qualified parties only.