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The Privatisation Commission (‘PC’) has set December 8, 2007 as last date
to receive Expression of Interest (EOI) from interested parties along with a
non-refundable processing fee of Rs.100, 000/= (Rupees one hundred thousand
only) for the acquisition of minimum of 90% shares of Hazara Phosphate
Fertilizers (Private) Limited (HPFL) together with management control on ‘as
is, where is’ basis. The parties submitting EoI shall be sent Request for
Statement of Qualification (RSOQ) document for response, which shall form the
basis for pre-qualification. Closing date for submission of Statement of
Qualification (SOQ) is December 22, 2007. Earnest money for qualification as a
bidder shall be Rs.40, 000,000/= (Rupees forty million) All matters including
terms and conditions relating to privatisation of HPFL shall be communicated
to all qualified bidders from time to time prior to the bid date which shall
form the basis for the bid.
The PC has invited from prospective investors i.e. companies or consortia
engaged in manufacturing or engineering business who can demonstrate the
ability to own and efficiently manage and operate the Company. The plant is
located at Haripur (NWFP) – 75 km from Islamabad. The factory is situated on
57 acres of developed land and includes plant, housing and ancillary
facilities.
National Fertilizer Corporation of Pakistan (Private) Limited (NFC) owns
Hazara Phosphate Fertilizers (Private) Limited. HPFL is a state owned private
limited company, registered under the Companies Ordinance 1984. The authorized
share capital of the company is Rs.200 million divided into 20 million
ordinary shares of Rs.10 each whereas the issued, subscribed and paid up
capital of the company is Rs.191.143 million comprising 19.143 million
ordinary shares of Rs.10 each.
The cost of Golden Hand Shake Scheme (GHS) for permanent workers based on All
Pakistan State Enterprises Workers Action Committee (APSEWAC) agreement and
Voluntary Separation Scheme (VSS) for the permanent executives will be shared
equally between the new buyer and the Privatisation Commission. The bidder
shall bid on the basis of Audited Accounts of June 2007 and may also factor in
the latest un-audited accounts available prior to the bidding.
National Fertilizer Marketing Limited (NFML) is currently carrying out
marketing of the product of HPFL. The Purchaser shall, however, be free to
market the product using its own arrangement. The Government of Pakistan in
order to encourage use of Phosphatic Fertilizers is currently providing a
subsidy of Rs. 204 per bag effective from 1st July 2007. To improve the
profitability of HPFL, Government of Pakistan and Government of NWFP are
endeavoring to make available local phosphate rock as raw material through
enabling environments for the private sector mining companies.