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A pre-bid meeting of the pre-qualified bidders 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 is being held in
the conference room of the Privatisation Commission Secretariat, Islamabad on
Thursday June 5, 2008 (tomorrow).
The PC had invited EOIs 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.
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.