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The Cabinet Committee on Privatisation (CCOP) met under the chairmanship of
the caretaker Prime Minister Mohammedmian Soomro here today.
The CCOP reviewed with satisfaction the progress of the ongoing Privatisation
Program for the current Financial year. The Program is expected to fetch
Rs.114 billion against which an amount of Rs.27 billion has already been
achieved.
The CCOP was given an update regarding the ongoing transactions including the
international offerings of GoP shares through Global Depository Receipts (GDRs)
of Kot Adu Power Company (KAPCO), Habib Bank Limited (HBL) and National Bank
of Pakistan (NBP). The CCOP was also apprised about the progress regarding the
privatisation process of SME Bank and industrial units transactions i.e.
Hazara Phosphate & Fertilizers Limited (HPFL), Pakistan Machine Tool Factory (PMTF),
Heavy Electrical Complex (HEC) and National Power Construction Company (NPCC).
Keeping in view the renewed interest and the requests from investors the CCOP
decided to invite fresh Expressions of Interests (EOI) for Jamshoro Power
Company (JPC) making conditions for the successful buyers to improve
efficiency and up grade the unit as a part of the deal through fresh
investment.
The CCOP directed PC to arrange a presentation indicating various options and
modes of privatisation by the Financial Advisor for sale of Roosevelt Hotel
New York at the earliest.