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A meeting of the Board of Privatisation Commission (PC) held under the
chairmanship of a senior member Mr. Iftikhar-ul-Haq here today, decided to
hold a pre-bid meeting for the privatisation of Hazara Phosphate & Fertilizers
Limited (HPFL) in the first week of next month for creating better
understanding of the transaction and the bidding process and to respond to the
queries of the pre-qualified bidders who have recently completed the due
diligence of the transaction.
The PC Board resolved to devise a road map for the next year for taking the
privatisation program forward. It will also help in reprioritizing the entire
program.
The Board was briefed regarding the present status of various ongoing
transactions and it was informed that a Financial Advisory Services agreement
for the international offering of Kot Addu Power Company (KAPCO) through
Global Depository Receipt (GDR) with J P Morgan was being finalized and would
be signed soon to proceed further in this regard.
The members were informed that the parties for the sale of PTDC Motels &
Restaurants have been pre-qualified while due diligence of Heavy Electrical
Complex (HEC) by the prospective bidders was in progress. Ten parties have
submitted their Expression of Interest (EOI) for taking part in the
privatisation process of National Power Construction Company (NPCC) and
overwhelming response from local and foreign investors was being witnessed for
SME Bank, which will close for receiving EOIs & SoQs on May 31, 2008.
The PC Board members’ senior representatives of the respective ministries/
departments and PC officials attended the meeting.